800 Florida A1A New Smyrna Beach, FL 32169
- Retail properties
- 13,454 SF
- 1.01 lot acres
Current Use by Public Records
- Retail properties
Property Details for 800 Florida A1A
- Year built
- 1993
- Lot size
- 1.01 lot acres
- Property size
- 13,454 SF
- Property type
- Retail properties
- Property subtype
- Drug stores
Description
This exceptional investment opportunity presents a fee-simple ownership of a Walgreens pharmacy located at 800 Florida A1A, New Smyrna Beach, Florida 32169. The property boasts a substantial 13,454 square feet (12,973 net rentable) on a 1.01-acre lot, built in 1993 and featuring 42 parking spaces. The single-story building sits on a highly visible, signalized intersection within a thriving trade area, offering convenient access and high visibility. Currently operating under a corporate-guaranteed, absolute NNN lease with Walgreens, the property provides exceptional security and consistent cash flow. The lease commenced July 1, 1992, and has a remaining term of approximately 8.3 years, expiring February 28, 2033, with three 5-year renewal options, each including a 1% rent bump. The current annual net operating income (NOI) is $159,999, resulting in a compelling 4.21% cap rate and a price per square foot of $282.44. The property is zoned 10B2 - Business General and benefits from its proximity to the beach and a liquor license. This is a rare opportunity to acquire a high-performing Walgreens location with a long-term lease and significant upside potential in a desirable coastal market. The asking price is $3,800,000.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- New Smyrna Beach
- County
- Volusia
- State
- Florida
- Longitude
- -80.8926
- Latitude
- 29.0284
