240 S Atlantic Ave
Ormond Beach, FL 32176
Retail Property For Sale

Beachside Investment Property adj to Dunkin Donuts 7,500 retail commercial property with ocean view. Two tenants in the building, both long term, very well established with stable rental income. The tenants have sustained through the economic collapse of 2008 hence very high stability. The first tenant has been at this location for nearly 10 years. The second tenant has been in the building for 5 years and extending the lease for another 5 years and has been operating gym business for over 15 years. Very minimal landlord responsibility and hence great for absentee manager. Tenant takes care of all the routine property maintenance, HVAC etc. The current landlord manages the property from out of state. The property has been extensively renovated with a new roof(25 year warranty), soffit, painting, fence etc., which greatly minimizes any deffered maintenance expenses. Nearly $200,000 in recent building improvements. The first tenant has redone the interior of the property. Tens of thousands of dollars of tenant improvements in place. Priced well below replacement cost! Won't last for long! Excellent beachside location next to well established Dunkin Donuts and a major hospital in the area. Across from 150+/- unit Best Western Hotel, Days Inn and Quality Inn and other beach clubs. Major road with high traffic counts. Excellent demographics. Other major area retailers within half mile are Starbucks, CVS, Burger King, IHOP, Pizza Hut,TGI Fridays, Walgreens, Outback