Venetian Bay Commercial Condos

For Sale

424 Luna Bella Lane, Unit B & C (Suite 131 & 133), New Smyrna Beach, FL 32168

This New Smyrna Beach property for sale is located at 424 Luna Bella Lane, Unit B & C (Suite 131 & 133). The general use of Venetian Bay Commercial Condos is office and it incorporates 6,604 square feet of class B office space. The current listed sale price for Venetian Bay Commercial Condos is $1,500,000.

Contacts

broker

John W. Trost

SVN | Alliance Commercial Real Estate Advisors

(386) 301-4581

Property Details

  • Property Type Office - General Office
  • Property Size 6,604 SF
  • Building Class B
  • Year Built 2007
  • Date Updated Apr 7, 2024
Located west of Interstate 95 between Pioneer Trail and SR 44 just off Airport Road.Two Commercial Condos totaling 6,604 SF with storefront on busy Luna Bella Lane. -Unit C (Suite 131): 4,354 SF is leased by Snap Fitness through April 2033. $62,819.12 Current Annual Base Rent 1/1/2024-12/31/2024, 4% annual increases except 2029 which has 19% increase, PLUS Tenant pays condo dues and real estate taxes. -Unit B (Suite 133): 2,250 SF is vacant and available for lease at projected $24.00 per SF base rent. $54,000 Annual Base Rent, PLUS Tenant will pay condo dues and real estate taxes. Projected Initial Cap Rate 7.8% with both units leased. Projected Overall Cap Rate 9.1% when factoring in all increases. Location has some of the best demographics in East Volusia County. The Downtown Venetian Bay Town Center has approximately 2,000 homes within a short walking distance and over 2,900 homes currently, with plans to grow to over 4,000 homes at full build-out. Additionally, there are 322 apartments under construction across the street. Currently estimated to be over 7,000 potential customers with over $75,000 plus Average Household Income. No hassle investment with Condo Association handling all building and grounds maintenance. Building signage available. Cash-in on local growth today!

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Highlights

  • Two Commercial Condos totaling 6,604 SF with storefront on busy Luna Bella Lane
  • Unit C (Suite 131): 4,354 SF is leased by Snap Fitness through April 2033
  • Unit B (Suite 133): 2,250 SF is vacant and available for lease at projected $24.00 per SF base rent
  • Projected Initial Cap Rate 7.8% with both units leased
  • Projected Overall Cap Rate 9.1% when factoring in all increases

Attachments

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  • 33/100

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Location

  • City New Smyrna Beach, FL
  • Zip Code 32168
  • Market North Central Florida

Points of Interest

  • RaceTrac

    2.64 miles

  • Chevron

    2.78 miles

  • BP

    3.00 miles

  • Murphy USA

    4.28 miles

  • BP

    4.83 miles

  • 7-Eleven

    4.99 miles

  • BJ's Gas

    5.13 miles

  • Tesla Supercharger

    5.18 miles

  • Wawa

    5.42 miles

  • Murphy USA

    5.79 miles

  • Longleaf Pine Preserve

    5.36 miles

  • Sugar Mill Visitor Parking

    7.56 miles

  • Country Inn & Suites

    4.96 miles

  • La Quinta

    5.12 miles

  • Anchor Inn

    6.42 miles

  • Black Dolphin Inn

    6.97 miles

  • Buena Vista Inn

    7.41 miles

  • All Suite Motel

    7.70 miles

  • The Riverview Hotel & Spa

    7.72 miles

  • Dusk to Dawn Motel

    7.77 miles

  • Hampton Inn New Smyrna Beach

    7.86 miles

  • Inn On The Avenue Bed & Breakfast

    7.97 miles

  • Walmart

    2.63 miles

  • ALDI

    4.35 miles

  • Kohl's

    4.98 miles

  • Publix

    5.01 miles

  • Big Lots

    5.26 miles

  • Target

    5.29 miles

  • Belk

    5.38 miles

  • Marshalls

    5.39 miles

  • Publix

    5.42 miles

  • Winn-Dixie

    5.43 miles

In-Depth Research Available for this Property

Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.

Contact Listing Broker

broker

John W. Trost

SVN | Alliance Commercial Real Estate Advisors

(386) 301-4581