South State Bank 763 East 3rd Avenue, New Smyrna Beach, FL Cap Rate 5.5% Smyrna Cove (New Smyrna Beach, Florida, US ) Built

$2,324,000 USD
Dollars

BAI-MEX Bienes Raíces y Negocios

  • Type: Commercial
  • Style: Commercial
  • Size: 3,019 sq. ft.
  • Development Level: Built
  • Lot Size: 0.83ft

Description

South State Bank 763 East 3rd Avenue, New Smyrna Beach, FL Cap Rate 5.5%

Cap Rate: 5.5%
NOI: $127,841
Building Size: 3,019 sqft
Lot Area: 0.83 acres
Lease Type: Absolute Net
Occupancy: 100%
Tenancy: Single
Lease Expire Year: 2025

DESCRIPTION
The subject property is prominently situated with excellent access and visibility along East 3rd Avenue/Highway A1A (28,000 AADT) within the Indian River Village, anchored by Publix and Bealls. The site benefits from robust demographics with a total daytime population of 40,736 within a five mile radius. Average household income within one mile of the site exceeds $79,600. Deposits at this branch exceed $25.79 million.
The property is situated in a prominent retail location less than 1 mile from the city’s eponymous New Smyrna Beach in close proximity to major tenants, tourist attractions, and retail centers. Shopping centers in the surrounding area include New Smyrna Shopping Center, anchored by Dollar General; NSB Regional, featuring Publix, Beall’s, and Dollar Tree; and Ocean Village, anchored by Dollar General Market. Other retail tenants in the surrounding area include Walgreens, CVS, New Smyrna Beach Farmer’s Market, Winn-Dixie, Dollar Tree, and more. In addition, the property is located approximately 1 mile from the Flagler Avenue Boardwalk, and approximately 2 miles from the New Smyrna Beach Historic District. The property is also located approximately 1 mile from Ocean View Nursing and Rehab Center, one of the city’s largest employers with a staff of 200 and 156 residents

This property is listed in conjunction with Florida-licensed real estate broker Robert Long.

HIGHLIGHTS
• Absolute NNN Lease to South State Bank (NASDAQ: SSB) with Rare Annual 2.5% Rental Escalations
• Highly Functional Footprint with 4 Drive-Thru ATM Components
• Excellent Access and Visibility within Publix-Anchored Retail Center - 28,000 AADT
• Prominent Location in Close Proximity to Tourist Attractions - More Than 10 Million Tourists Visit Volusia County Annually
• Robust Demographics in Surrounding Area - Average Household Income of $79,600 within 1 Mile of Site
• Approximately 15 Miles from Daytona Beach and 1 Hour’s Drive from Orlando
• CenterState Bank merged with South State Bank in June 2020 Providing Significant Credit Enhancement for Landlord
• South State Bank Holds Approximately $37.67 Billion in Assets

For more information:
Javier Tamez Martínez.
jtamez@bai-mex.com
Celular: +52 (81) 1599 75 36
Podemos encontrar propiedades comerciales e industriales para invertir en cualquier ciudad y estado de estados unidos.

Attachments

P2#443625403
top
Information is deemed to be correct but not guaranteed.