koin kleen laundry - loopnet · the property koin kleen laundromat 166 s atlantic ave ormond beach,...

KOIN KLEENLAUNDRY

166 S Atlantic Ave, Ormond Beach, Fl 32176

FOR SALE166 S Atlantic Ave,Ormond Beach, Fl 32176

OFFERING MEMORANDUM

BEAU WARRENRealty Pros Commercial☎ 386.589.5754✉ [email protected]

900 W Granada Blvd. Ormond Beach, Fl 32174


TABLE OF CONTENTS

Executive Summary

Investment Highlights

Property Overview

Site Plan

Property Photos

Zoning

Volusia County Property Card

Locator map

Demographics

Traffic Counts

Contract Information

Confidentiality Statement

3

4

5-6

7

8

9

10-11

13

12-14

26

27

28


EXECUTIVE SUMMARY

THE PROPERTY

Koin Kleen Laundromat166 S Atlantic AveOrmond Beach, Fl 32176

PROPERTY SPECIFICATIONS

Property Type:Building Size:Land Size:Year Built:Construction:Zoning:In Place NOI:

Laundromat1,200 FT2,917 SF1959Concrete BlockB7 Ormond Beach$21,609.72

PRICE

Sale Price:

CAP Rate:

Terms:

$249,900

8.6%

All Cash

Daytona Beach Metro Area shows great growth patterns on Florida’s east coast. The new expanded $400m Speedway renovation in 2016. ONE Daytona multi-3use retail and hotel area, Tanger Outlet Mall. New 65,000 SF office complex. 400,000 SF food distribution. 200,000 SF pharmaceutical distribution. All within the vicinity. Soon to come a 6,500 Unit “Margaritaville” housing development. Daytona is a dynamic market with much growth potential!


INVESTMENT HIGHLIGHTS

• Lease Term

• Gross Rent Escalations

• Gross Profit

• NET INCOME

5 YEAR NNN

3% Annually

$21,609.72

$21,609.72

LEASE YEARS MONTHLY BASE RENT ANNUAL BASE RENT

Current (2017) $1,800.81 $21,609.72

1 (2018)* $1,854.83 $22,257.96

2 (2019) $1,910.48 $22,925.76

3 (2020) $1,967.79 $23,613.48

4 (2021) $2,026.83 $24,321.96

5 (2022) $2,087.63 $25,051.56

Rent beginning the 6th year will be tied to the CPI Index but will be not less than 3% over rents paid during the fifth year or $1,854.83 per month nor greater than 10% over rents paid during the fifth year or $1,980.89 per month. For each year during the remaining four years of the renewal period the increases will be fixed at 3% each year.


PROPERTY OVERVIEW

Outstanding investment opportunity in Ormond Beach, Fl. A new 5 year

NNN lease to be signed with escalations leaving little landlord obligations.

This is the only coin-op laundry facility in the area driving demand and

ensuring sustainability.


PROPERTY OVERVIEW

ACREAGE:

BUILDING SIZE:

YEAR BUILT:

CLEAR HEIGHT:

SPRINKLERS:

ELECTRICAL:

LIGHTING:

CONSTRUCTION:

ZONING:

ROOF:

FENCING:

TAX ID(S):

2,917 SF

1,200 FT

1956

8 FT

N/A

Various

Concrete Block/Stucco/

B-7

Flat

N/A

4214-17-01-0021

http://vcmaps.vcgov.org/vcmaps/Palms/cgisearch.asp?pid=421417010021


SITE PLAN


PROPERTY PHOTOS


ZONING – ORMOND BEACH, FL

Purpose and intent. The purpose of the B-7, Highway Tourist commercial

zoning District is to provide for a variety of tourist facilities and tourist-

related support activities in an attractive setting which will promote

pedestrian activity and reinforce positive visitor experience. This district is

designed for use within or in close proximity to other districts within which

major transient lodging development has occurred or is permitted.

B-7, Highway Tourist Commercial


VOLUSIA COUNTY PROPERTY APPRAISER CARD

LOCATOR MAP


DEMOGRAPHICS


TRAFFIC COUNT


CONTACT INFORMATION


For more information, please contact:

Beau WarrenCommercial Real Estate AdvisorRealty Pros Commercial1450 W Granada Blvd.Ormond Beach, Fl 32174

☎ 386.589.5754✉ [email protected]🌐 RealtyProsCRE.com

CONFIDENTIALITY STATEMENT


This offering has been prepared solely for informational purposes. It is designed to assist a potential investor in determining whether it wishes to proceed with an in-depth investigation of the subject property. While the information contained herein is from sources deemed reliable, it has not been independently verified by Realty Pros Commercial or by the Seller. The projections and pro forma budget contained herein represent best estimates on assumptions considered reasonable under the circumstances. No representations or warranties, expressed or implied, are made that actual results will conform to such projections.

This document is provided subject to errors, omissions and changes in the information and is subject to modification or withdrawal. The contents herein are confidential and are not to be reproduced without the express written consent.

Interested buyers should be aware that the Seller is selling the Property “AS IS” CONDITION WITH ALL FAULTS, WITHOUT REPRESENTATIONS OR WARRANTIES OF ANY KIND OR NATURE. Prior to and/or after contracting to purchase, as appropriate, buyer will be given a reasonable opportunity to inspect and investigate the Property and all improvements thereon, either independently or through agents of the buyer’s choosing.

The Seller reserves the right to withdraw the Property being marketed at any time without notice, to reject all offers, and to accept any offer without regard to the relative price and terms of any other offer. Any offer to buy must be: (i) presented in the form of a non-binding letter of intent; (ii) incorporated in a formal written contract of purchase and sale to be prepared by the Seller and executed by both parties; and (iii) approved by Seller and such other parties who may have an interest in the Property. Neither the prospective buyer nor Seller shall be bound until execution of the contract of purchase and sale, which contract shall supersede prior discussions and writings and shall constitute the sole agreement of the parties.

Prospective buyers shall be responsible for their costs and expenses of investigating the Property and all other expenses, professional or otherwise, incurred by them.

koin kleen laundry - loopnet · the property koin kleen laundromat 166 s atlantic ave ormond beach,...

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