Sold – 1620 S. Atlantic Ave Land Sale, Daytona Beach .64 ac

Posted by admin on September 22, 2016 under by Tim Davis, daytona beach commercial real estate, Daytona Commercial Real Estate, News Releases | Be the First to Comment

9/12/16

A 0.64 acre site on the west side of South Atlantic Ave has sold. The site at 1620 S. Atlantic is directly across from the Holiday Inn Beach Resort, and is the site of the former Steve’s Famous Diner and later Marco’s Italian. The structure has fallen into what is believed to be irrecoverable condition over the last few years, and the sale price of $600,000 demonstrates this was a land-value only transaction.

The seller was an investment company from Orlando, Humphrey Investments who purchased the property several years ago as an investment in the recovery of Daytona’s beachside. The recent sale of the neighboring Holiday Inn Beach Club for $27M certainly proves that growth. The buyer was a related company to the Nautilus Inn just north of the site. They plan to redevelop the site for some other retail use and to provide additional parking for the hotel.

Tim Davis of SVN Alliance represented the Buyer and Seller.

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9.2ac Industrial & Flex/Warehouse Land Sale

Posted by admin on under by Tim Davis, daytona beach commercial real estate, News Releases | Be the First to Comment

SVN Alliance is pleased to announce the closing of this 9.2ac development site. featuring over 2200′ of frontage on Parque Drive the site is located just behind the Publix shopping center on S. Yonge Street in Ormond Beach. The sellers were the Hardesty family who were original developers of nearby historical projects.

Ohio industrialist Walter C. Hardesty began developing land along what is present-day Calle Grande Street in the early 1900’s. In 1923 he built the 120-room Riviera Hotel as part of a proposed Rio Vista Resort that would stretch along canals to the west. A golf course began operating on Calle Grande Street after World War II and was expanded in 1955 into the present-day Riviera Country Club.

“It is neat to see infill locations such as this sell after a family has owned them for over 100 years. The original family members would purchased the land had grand plans, and it is good to see those carried out by someone after all these years” – Tim Davis

Tim Davis of SVN Alliance represented the Sellers in the transaction.

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Beachside Multi-Family Apartment Sells in Daytona Beach Shores

Posted by admin on July 8, 2015 under by Tim Davis, investment property for sale in daytona beach, News Releases | Be the First to Comment

The Sea Shell Villa, an eleven unit apartment building at 3760 S. Atlantic Ave in Daytona Beach Shores has sold. The property closed July 6, for $860,000. The property is located on the west side of A1A, with direct beach access. The Seller was Tom Thornton of Lockbourne Ohio, the purchaser was Ramesh Yeluri of Taylor Michigan.

This sale is significant for two reasons; first it represents another transaction by an out-of-state party making a significant investment in a beachside real estate. The Buyer’s interest was driving largely by the exciting pipeline of projects for beachside Daytona Beach. Secondly, the sale price represents a 7.6% capitalization rate. This is a near record low cap rate for a low-rise garden style multi-family property in the Daytona Beach area.

Charles Wayne Properties, Inc. is one of Central Florida’s largest commercial real estate brokers.  It manages, leases or owns in excess of 1,500,000 sq. ft. of retail and office properties, and has offices in Orlando, DeLand, Melbourne, Ocala and Daytona Beach.


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235′ Oceanfront Parcel – SOLD

Posted by admin on April 29, 2015 under by Tim Davis, News Releases | Be the First to Comment

The oceanfront land located at 3167 S. Atlantic Avenue, in Daytona Beach Shores has sold for $2,950,000. The site features 235’ of frontage, and 275’ in depth to the seawall. The Seller, Strand Property Partners LLC, purchased the site in 2004 for the purpose of developing a 118 unit condo project. When the economic conditions derailed that project in 2008, the Owners decided to forgo development of the site. The Seller’s listed the property in May 2013 for $3,700,000.

The Buyer is the County of Volusia, who plans to develop the site into a public use facility, providing beach access and parking open to all residents and visitors of Volusia County.

Tim Davis represented the parties in this transaction.

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Beachside Daytona Beach Office Building – Sold

Posted by admin on September 2, 2014 under by Tim Davis, daytona beach commercial real estate, Daytona Commercial Real Estate, News Releases | Be the First to Comment

501 Plaza Blvd in Daytona Beach has sold – the 1700 SF freestanding office building just off of Atlantic Ave, adjacent to Bel Air Plaza closed today for $105,000. The seller was ET Partners out of Knoxville Tennessee, who acquired the building via a bulk note purchase earlier this year which this asset was collateralizing.

The buyer is Timeless Touch Inc. They have no immediate plans for the building and like the investment opportunity the building poses.

Tim Davis of Charles Wayne Properties Inc was the broker of record in the transaction for ET Partners.

 

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200′ Oceanfront Land Parcel – Sold

Posted by admin on August 12, 2014 under by Tim Davis, daytona beach commercial real estate, Daytona Commercial Real Estate, News Releases, Uncategorized | Be the First to Comment

The 1.28ac parcel at 834 N. Atlantic Ave has sold for $2,200,000. This is just under $40/SF, and now the highest sale per square foot, compared to any of any of the sites 200′ or greater.  The seller was DB Investments of Pinellas, who purchased the site as bank-owned foreclosure in July of 2011. This sale represents the first oceanfront land sale between 2 private parties since late 2007. It is also the first of the formerly bank-owned foreclosed parcels to re-trade from an pure investor to a group with development plans; this is a significant step forward for the beachfront property in Daytona Beach.

During the low part of the recession, there was a fair amount of negative publicity around the outside investment by private equity groups and real estate funds. The fears voiced at that time were that these outside investors would “sit on” the land for a decade or more, and that it would stall redevelopment of Daytona Beach. My counterpoint to those fears; Investors place money in assets seeking a desired rate of return. If that targeted return can be achieved in 20 years or 20 days, that is the event that triggers the sale the investment.

 

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New Listing – Daytona Beach Shores Condo Development Site

Posted by admin on September 13, 2013 under News Releases | Be the First to Comment

The property at 1901 S. Atlantic is under contract – so here is another one  – 3411 S. Atlantic Ave

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Early Reports say Bass Pro Shops in Daytona Beach will be an 80,000 SF model

Posted by admin on August 28, 2013 under by Tim Davis, News Releases | Be the First to Comment

The first question when it comes to the recently announced Bass Pro Shops – “How large will the store be?” There are several size models, down to as little as 30,000 SF. After conversations at the ICSC convention in Orlando, and more in the following week, the general consensus among the retailer’s peer is that the site will be an 80,000 SF example of the retailers operation.

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Vacant Land Parcel Near Hard Rock Hotel Site – SOLD.

Posted by admin on June 21, 2013 under by Tim Davis, daytona beach commercial real estate, Daytona Commercial Real Estate, News Releases | Be the First to Comment

June 21, 2013. A 11,000 SF vacant parcel has sold on the west side of A1A, near the proposed Hard Rock Hotel development. The parcel is situated on the corner of Frances Ave and Atlantic Ave.  The sale price of $325,000 represents a very high per SF rate for vacant land, and clearly highlights the value placed on surrounding parcels if Bayshore Capital does in fact complete construction on their hotel.

The seller has purchased the property in 2005 when a large condo project was being proposed for the 800 block of S. Atlantic Ave. When that project never materialized, they put the property on the market with little interest. The announcement of the Hard Rock hotel in May sparked new interest, and the property quickly went under contract.

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Int’l Speedway Corp’s “One Daytona” makes its debut at ICSC – 1.1 million SF.

Posted by admin on May 22, 2013 under by Tim Davis, News Releases | Be the First to Comment

From Bisnow:

During this week’s ICSC RECon convention in Las Vegas, Jacoby’s Jim Jacoby and Brian Leary gave an exclusive peek into the firm’s latest mega project—a 1.1M SF mixed-use development directly connected to the Daytona International Speedway called One Daytona. The development—if the partnership can pass municipal muster and round up local incentives—will contain apartments, 500k SF of retail, and two hotels. Over the course of years, ISC assembled 180 acres of land contiguous with the NASCAR racetrack and the firm’s 200k SF HQ. Jacoby already has LOIs from a “major outdoor sporting goods retailer” and a movie theater. Click the video to hear Brian describe one of its three parts.

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