1308 Ridgewood ave - Freestanding FOR SALE


Edgewater, FL 32132
$3,900,000 USD
502-442-7074
1308 Ridgewood ave, Edgewater, FL for Sale
$3,900,000 USD
Freestanding - FOR SALE
1/9
null | 6.1% Cap Rate

1308 Ridgewood ave
Edgewater, FL 32132


HIGHLIGHTS

  • Strong Tenant Lineup | 100% Occupied | NNN Leases |Annual Rental Increases
  • Florida Shores Plaza (81,000 SF) | Dense Retail Corridor | New Smyrna Beach Regional Center (213,000 SF)
  • S Ridgewood Ave (30,500 VPD) | Highway Commercial (B-3) | Brand-New Construction | Excellent Visibility & Access
  • Strong Demographics in 5-mile Trade Area

OVERVIEW

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a two-tenant, 100% occupied, retail investment property located in Edgewater, Florida. The property totals 4,887 SF and is divided into two suites with Taco Bell occupying 1,887 SF and Planet 13 Holdings utilizing the remaining 3,000 SF. The property features a 15-year lease for Taco Bell, a 10-year lease for Planet 13 and 3 (5-year) option periods for both tenants. The brand new Taco Bell lease features 2% annual rental increases and the VidaCann lease features a 10% rental increase at the beginning of year 6. Both tenants will see these increases throughout the initial term and option periods, steadily growing NOI and hedging against inflation. The offering consists of a diverse e-commerce resistant tenant lineup comprised of service tenants, creating a stabilized income stream for a new investor. Both tenants recently signed brand-new long-term leases which are NNN in nature, limiting expense leakage for a future investor.

FOR SALE DETAILS

PRICE

$3,900,000 USD

PRICE/SF

$798 USD /SF

CAP RATE

6.1%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

2-Tenant Retail | NNN | Annual Increases

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2024

SPRINKLERS

-

PARKING SPACES

34

LAND DETAILS

LAND ACRES

1.2 AC

LAND SF

52,272 SF

ZONING

B-3

APN/PARCEL ID

7433-01-00-0250

ASK ABOUT THIS PROPERTY

Morgan ZantSRS National Net LeaseMore Info
502-442-7074

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Morgan ZantSRS National Net LeaseMore Info
502-442-7074

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.