NWC US Highway 17-92 Dr
Debary, FL 32713
DeBary Commercial Site - 2.13± Acres · Land For Sale · 2.13 AC

This parcel is well positioned at the NWC of US Hwy 17-92 and Spring Vista Dr. There are over 25,000 vehicles per day that travel along US Hwy 17-92 near this site. This property boasts 83 linear FT +/- frontage along US Hwy 1792, 229 linear foot along Spring Vista Dr, and 441 linear FT along Englenook Dr, which leads into "The Reserve", a mature residential subdivision, developed in 1995 +/-. Average household incomes within a 1 mile radius are just over $80,000. There are a number of permitted uses for this site. See the sales brochure, page 8, for the listed permitted uses for this BPUD. Along the SWC of the intersection finds a fully developed, 59,167 SF, "Public Storage", mini storage facility. As of 4-3-2021, PSF Rental Rates at the Public Storage facility were $27.36 PSF, for a climate controlled 50 SF unit, $16.44 PSF, for an outside (non climate controlled) 100 SF unit, with limited boat and RV storage available @ $104 for a 12 x 25 FT boat/trailer parking spot. Assuming an occupancy rate of 85% (50,292 SF) and an average gross rental rate of $12 PSF, which seems to be well under the asking rental rate PSF, the estimated income value for this asset would now be: $8.6 M, based upon a 7% CAP Rate return. Plenty of upside for mini-storage here, given the competitive rental rates for this Public Storage facility.