2612 Enterprise RdOrange City, FL 32763

Property Details for 2612 Enterprise Rd

Year built

1990

Lot size

14.33 AC

Property size (Sq ft)

103,999 SF

Property type

Retail properties

Property subtype

Lifestyle centers

Description

Exceptional opportunity to acquire Crown Centre II, a 103,999 square foot, single-story shopping center in Orange City, Florida. This stabilized investment property boasts a 7.28% cap rate and a strong NOI of $1,128,726. Currently 100% occupied by six credit-rated tenants, including AT&T, Bealls, Bealls Outlet | HomeCentric, Babcock Home Furniture, Trulieve, and Amscot Financial, under NNN leases with rent bumps. The property underwent over $2.2 million in renovations in 2023, enhancing its appeal and value. Built in 1990 with additions in 2013, this fee-simple ownership sits on a 14.33-acre lot at 2612 Enterprise Rd, 32763, benefiting from high traffic counts exceeding 55,000 vehicles daily. Its prime location within the area's main retail corridor, shadow-anchored by a Publix Supermarket (which invested over $20 million in a nearby location in 2014), and proximity to major retailers like Target, Lowe's, and Hobby Lobby, ensures consistent demand. Furthermore, its close proximity to AdventHealth Fish Memorial Hospital, a 257-bed acute care facility with a recent $100 million expansion, adds to its strategic value. The property's desirable weighted average lease term and strong tenant mix make it an attractive investment opportunity. Asking price: $15,500,000 ($149.04/sq ft).

Location Insight

City

Orange City

County

Volusia

State

Florida

Latitude

28.9137

Longitude

-81.2956

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