Fully Leased Office Condo Portfolio
725 W. Granada Boulevard Units 30-31, 46-47, 50, Ormond Beach, Florida 32174
Sold: $735,000
Property Details
Property Type
Improved property
Building Type
Freestanding
Building Size
2,692 sqft
Zoning
B-9
Year Built
2006
N O I
$53,951.69
Cap Rate
7%
Parcel No
5 Parcels
Property Description
- Three fully leased office condo units offered as a portfolio on Ormond Beach's busiest commercial corridor.
- Granada Professional Center offers three office condo units built in 2006, featuring high ceilings, storm-rated doors and windows, ample on-site parking, and prominent multi-tenant monument signage along W. Granada Boulevard (State Road 40), which carries over 33,500 vehicles per day.
- The units are 100% occupied by Hopkins Hearing Institute, Seahaven Chiropractic, and The Vanity Room Salon, delivering a diversified, healthcare-focused income stream supported by a surrounding trade area with an average age of 51.1 and household incomes approaching $84,300 within three miles.
- Offered at $772,000 with a 7% cap rate and a current NOI of $53,951.69, this is a rare, fully stabilized investment opportunity well suited for a private investor or 1031 exchange buyer seeking low management, cashflowing assets in a high-demand Florida market.
Location
Contact
John W. Trost, CCIM
SVN | Alliance Commercial Real Estate Advisors