Retail Strip Plaza | 6 Units | Owner Financing Available

Highlights:

• City water, electricity, and septic connections available
• 6 AC units, all operational and well-maintained
• Owner Financed Deal: 5-Year Balloon at 4.75%

Description:

Current Gross Monthly Rent: $4,597.26
Current Gross Yearly Rent: $55,167.12
Expenses: $11,699.44
Current NOI: $43,467.68
Current Cap Rate: 6.63%
Potential Gross Monthly Rent: $6,250.00
Potential Gross Yearly Rent: $75,000.00
Expenses: $0.00 (Potential NNN lease)
Potential NOI: $75,000.00
Potential Cap Rate: 11.43%

Asking price: $656,000 with OWNER FINANCING option
Down Payment: $140,900 (due at closing)
Note: $515,100
Payment Terms:
Monthly Payment to Seller: $2,609.9/month $31,319.2/year
Interest Rate: 4.5% with a 5-year balloon
Amortization period: 30 Years
No prepayment Penalty

Address: 990 DERBYSHIRE RD, Daytona Beach FL 32117
County: Volusia County
Parcel ID: 5202-00-00-0620
Zoning: B-5
Land size (sqft): 25,864
Land size (acre): 0.59

Layout:
500 sqft per unit
Each unit has one handicapped bathroom, sink, and toilet.
One water meter for the building.
Separate electric meters

Google Maps Link: https://maps.app.goo.gl/BUpB3G3LFfvKn61t7

Disclaimer: Acre Expert LLC is a team of real estate developers and investors. We buy, sell, and hold properties for investment purposes.

We are not licensed real estate brokers. This property is being marketed based on our equitable interest via an assignable contract or as the property owner.

All information is provided as-is. Buyers are encouraged to perform their own due diligence.

Showing property visits by appointment only.
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