Neighborhood: Spring Lakes Add 01, 32763 - Orange City
Property Taxes: $3,030
Commercial investment alert! Commercial Business/Office Space with Volusia Avenue Frontage in Orange City! Take a look at this prime 28,200 sf commercial lot centrally located directly on Volusia Avenue in Orange City! This property averages nearly 32,000 in daily car traffic! Aside from the high traffic, the property also features block construction and enough parking for 20 vehicles. The commercial space was last used as an auto repair shop and was on an annual lease of $1,700/month alone! Since that time, Orange City has continued to see huge business growth. Brand new office buildings were developed across the street on Volusia Avenue and a brand new Checkers was recently built across the street on Cedar Avenue. With some renovations, this space can easily be leased and/or subleased at $2,000/month for building two and $1,500/month for building one. Doing so would bring in $42,000 in gross income which would render a 10.65% gross cap rate.
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