4895 Belle Terre Pkwy Palm Coast, FL 32137-8696
- Retail space
- 2,359 SF
- 0.63 lot acres
Nov 20, 2024
Current Use by Public Records
- Verizon / Internet Service Provider / Electronics Store
- Verizon Business Services / Internet Service Provider
Property Details for 4895 Belle Terre Pkwy
- Year built
- 2014
- Construction
- WOOD
- Lot size
- 0.63 lot acres
- Property size
- 2,359 SF
- Property type
- Retail space
- APN
- 13-11-30-4971-00000-0010
- APU
- 1311304971000000010
Description
This exceptional investment opportunity presents a fee-simple ownership of a 2,400-square-foot, Class A, single-tenant retail storefront occupied by Verizon Wireless. Located at 4895 Belle Terre Pkwy, Palm Coast, FL 32137, this property boasts a prime location on a 0.63-acre lot at the northwest quadrant of Belle Terre Pkwy and Palm Coast Pkwy SW, benefiting from access to two signalized intersections. The property, built in 2014, is part of a thriving retail area including Publix, Aldi, McDonald's, AutoZone, Kohl's, PNC Bank, Circle K, Space Coast Credit Union, and Walgreens. The current lease, a triple-net (NNN) agreement with a franchisee tenant, commenced on May 9, 2014, and expires May 31, 2029, with one five-year option remaining. The lease includes rent bumps. The property generates a strong net operating income (NOI) of $145,200, representing a 6.00% cap rate on the asking price of $2,420,000. The property features one single-story building and enjoys 100% occupancy. The estimated population within a five-mile radius exceeds 88,000, with an average income exceeding $112,000. This is a debt-free, all-cash purchase opportunity.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Palm Coast
- County
- Flagler
- State
- Florida
- Longitude
- -81.2374
- Latitude
- 29.5518
- CBSA code
- 19660
- CBSA name
- DELTONA-DAYTONA BEACH-ORMOND BEACH, FL METROPOLITAN STATISTICAL AREA
