Attachments

• For Sale Flyer
• Charles Wayne Properties Web Site

Highlights

• Booming Daytona Beach Submarket
• +/- 640 ' of frontage on A1A
• 5+ Acres across from the Atlantic Ocean

• Existing shopping center with retail and/or mixed-use redevelopment potential
• Major tourist & beachfront thoroughfare
• Strong rents and occupancy rates in market

Description

* PRICE REDUCED TO $4,900,000 FROM $8,250,000!

* SELLER FINANCING AVAILABLE!

* DOWNLOAD FLYER FOR MORE INFO

Ellinor Village is a center ripe for redevelopment. Current owners of the center have allowed leases to expire to facilitate an upgrade, or conversion.

Currently an operating retail center that can be retenanted "as-is", the highest and best use for the property in the near future will be a redevelopment or mixed-use project featuring retail and potential multi-family. The site currently is zoned for a development potentially accomodating retail & 53 condo units.

The property consists of four buildings on the north and south corners of A1A and North Shore Blvd., on the west side of A1A. Two of these buildings are outparcel buildings- one an operating gas station, the other a vacant dinner house. The other two buildings are strip center buildings occupied by local tenants on short-term leases, along with legacy tenant Family Dollar.

This is an ideal opportunity for an investor to purchase the property at below replacement cost and position the asset for an upgrade to meet current market demand in the upscale Ormond Beach area

The property is situated on the west side of A1A in Ormond Beach, Florida- Daytona Beach's most affluent submarket. This portion of Ormond Beach is characterized by new and redeveloped condominium projects and retail, with some office and medical uses nearby. The property is just south of Florida Hospital's oceanside location.

This stretch of A1A is a major tourist thoroughfare. Beach access is directly across from the property, which boasts approximately 640' of frontage along this north-south beachfront artery.

Ellinor Village is at the epicenter of a dynamic and growing market experiencing a boom due to population growth, along with a recent increase in popularity of the Daytona Beach area's cultural events, including the Daytona International Speedway races, Bike Week, the Daytona Jazz Festival, Biketoberfest, and regular performances of the London Symphony Orchestra.

Nearby retailers include Bonefish Grill, Starbuck's, Publix, TGI Friday's, Bennigan's and Outback. The market has demonstrated sustained rent growth and decreases in vacancy rates.

IMPORTANT: INCOME DEPENDENT UPON REHAB & LEASE-UP. VALUE IS IN THE LAND.