Just Listed – Riverfront Mixed Use Retail/Condo Development Site

Posted by Chris Riehm on January 9, 2018 under by Tim Davis, Daytona Commercial Real Estate, Uncategorized | Be the First to Comment

SVN Alliance is pleased to present an excellent mixed-use and/or condo development site on the Intracoastal Waterway(Halifax River) in South Daytona Florida. The total site is 8.7 acres with over 600’ of river frontage, and over 1000’ on US Highway 1. This is a fully entitled project with development agreement in place, and an excellent candidate for either pure condo development, or a mixed use concept with retail and condominium components. The currently approved development agreement allows for 522 units at R-60 density, and a maximum building height of 185’

There is currently a submerged land lease in place for a dock/fishing pier, however previous site plans and approved PD agreements with the City of South Daytona did include wet slips.

This is an excellent location, just 2.5 miles to the beaches via Dunlawton Ave, 5.5 miles to the Daytona International Airport. Multiple shopping venues, .34 miles to Sunshine Mall , a Publix anchored shopping center, 6.95 miles to One Daytona, and 9.04 miles to the newly completed Tanger Outlet Mall. Further afield, the location is just a quick 90 minute drive to the Orlando attractions. By boat, the site would allow 20-25 minute transit to the Ponce Inlet for Atlantic Ocean access.

$5,100,000

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2ac Oceanfront Development Site – Just Listed $5,900,000

Posted by Chris Riehm on December 13, 2017 under by Tim Davis, New Listings, Uncategorized | Be the First to Comment

SVN Alliance is proud to present the roughly 2 acre oceanfront development site at 1015 S. Atlantic Ave in Daytona Beach. 1015 S. Atlantic is one of the few remaining mid-size parcels left on the market in Daytona Beach that would be ideal for 150-200 condos(depending on unit mix) or a select service hotel. The City of Daytona Beach is very flexible on development, and generally considered fair in their approval process.  The vacant parcel has 204′ of ocean frontage, 428′ deep at the southern end, and 432′ deep along the northern end.

The asking price of $5,900,000, and full details can be found HERE

Tim C. Davis, CCIM

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Multi-tenant Industrial Sale – 38,000 SF

Posted by admin on August 17, 2015 under Uncategorized | Be the First to Comment

J&G Industrial Park in Holly Hill Florida has sold. The 38,5000 SF building sold on August 14th, for $1,000,000, or $26.50 per square foot. At the purchase price, the  acquisition cap rate of 9.7%.  The building was 85% occupied by 17 individual tenants at the time of sale. The Seller had owned and operated the industrial park for nearly 30 years, and the sale was driving by the desire to recycling the equity into less management intensive property.

 

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Daytona Beach  Walgreens-anchored property sells. 

Posted by admin on June 16, 2015 under Uncategorized | Be the First to Comment

A retail building occupied by Walgreens located at 537 N. Atlantic Avenue in Daytona Beach has sold. The property closed Friday May 29th, for $4,550,000. The Seller was a local entity, GKM Investments LLC, who purchased the property in 2007 for investment purposes. The purchaser a California company 20th Street Development LLC, based in Beverly Hills. In addition to the Walgreens, the sale includes a second 7,200SF building leased to a gift shop.
Walgreens, CVS, and Rite-Aid drugstores continue to be desirable investment vehicles for commercial real estate investors seeking stable cash flow at well above bond market returns. The current six-month average cap rate on a Walgreens with 5 years or less remaining on the lease is 7.24%.

Tim Davis of Charles Wayne Properties Inc represented the parties in this transaction.

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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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Ormond Beach Retail / Warehouse/Showroom – Sold

Posted by admin on June 5, 2014 under Uncategorized | Be the First to Comment

A Texas based real estate investment group, MDD Enterprises has purchased  the building located at 912 S. Nova Road in Ormond Beach. The 6,000 SF single tenant building has a good local tenant in place, and represented a opportunity for the buyer to purchase a well-located building on a high-traffic arterial roadway. The purchase price represents a comfortable rate of return for an industrial warehouse building with a retail showroom/offices. Long term upside for the buyer lies in the Ormond beach location lending itself to future redevelopment of the site for a more intensive retail use. The buyer was represented by Tim Davis of Charles Wayne Properties.

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Ormond Beach Industrial Continues Run

Posted by admin on June 3, 2014 under Uncategorized | Be the First to Comment

Another building in the Ormond Beach Airport Industrial Park has traded, just 6 weeks after the sale at 30 Aviator. 4 Signal Blvd, totaling 11,600SF,  closed yesterday at $480,000 or just under $42/SF. This one of multiple industrial sales over the $40 SF mark in 2014, demonstrating extended support of this price point. The Buyer is World Color, currently located in the park. They were in the market for additional space to facilitate growth.  The seller was a real estate investment trust, American Environment Foundation. They decided this was an excellent price point for them to recycle their capital.

For other industrial warehouse information and listings – www.daytonawarehouse.com, or 386.566.4917
Tim Davis

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Hard Rock Daytona Beach – VIP Gala at Rolex 24

Posted by admin on January 23, 2014 under by Tim Davis, daytona beach commercial real estate, Daytona Commercial Real Estate, investment property for sale in daytona beach, Uncategorized | Be the First to Comment

 

 

 

 

 

 

 

 

 

 

 

 

Last night Bayshore Capital CEO Henry Wolfond asked me if I was excited as him about the Hard Rock hotel coming to Daytona Beach. I laughed and offered that maybe “excited” was a grand understatement in the context of what a project like this means to our city. We circulated around the room last night, looking at al of the Memorabilia on hand, from guitars to clothing worn by the music industry’s greatest acts.

A few years ago, when we were first assigned the task of marketing the land for the previous owner, I had no idea who would be interested in the site. We took on the task in July of 2010, and on one of those following summer afternoons, I went over to the site, and took some photos from teh top floor balcony of the condo to the south, as well as some from the beach, looking back at the seawall. Those shots looking back at the property from the shoreline really struck me – you do not realize the size of that vacant parcel driving by at 40mph.

Over the next year I made hundreds of phone calls to groups from all over the world, and dozens of personal visits to developers and opportunity funds in the northeast. I could see the massive potential in such a massive size parcel. Nearly a linear quarter mile of land, in a developed, mature coastal city, 4 miles from a national airport, and let us not forget the World Center of Racing, Daytona International Speedway.

I applaud the Bayshore team, and look forward to all of their development plans for not only this site, but the other 4 oceantfront properties they own.

Click HERE for This morning’s NewsJournal Story on the VIP Gala

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Daytona Beach Shores Resort Trades for $39+ Million

Posted by admin on January 8, 2014 under by Tim Davis, daytona beach commercial real estate, Daytona Commercial Real Estate, investment property for sale in daytona beach, Uncategorized | Be the First to Comment

Fresh on the heels of a the Belaire Plaza Sale at $21.5mm – New York firm Garrison Investments has purchased the Shores Resort for $39.25mm.

At 211 rooms – this represents a sale price of $186,000 per room. Certainly a premium price for our market, the Shores is considered by many locals to be the hotel with the top amenities in the area. The hotel restaurant and bar – Azure – is a destination for locals and tourists alike. You must make some assumptions that the revenue from the restaurant and multiple pool-area bars is offsetting the per-key price.

At any rate – This is a further validation of the market, and catalyst for other transactions.

Full News Story by Bob Koslow 

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Commercial Financing is back!

Posted by admin on December 18, 2013 under by Tim Davis, daytona beach commercial real estate, Daytona Commercial Real Estate, Uncategorized | Be the First to Comment

Just this week, we have a report from the Mortgage Bankers Association that commercial financing experienced the strongest quarterly increase since 2008.

If financing is back, then marketability is back.

Click Here for the MBA quarterly report

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