For Sale
$750,000

424 Luna Bella Ln Unit BNew Smyrna Beach, FL 32168

Retail Condo, High-Growth Area, Owner/User

Overview

Added:
Dec 11, 2024
Days on market:
114
This 2,989 square foot retail condo in New Smyrna Beach, Florida, presents a unique owner-user opportunity. Located at 424 Luna Bella Lane, Unit B (Suite 133), this property boasts a prime location within the thriving Venetian Bay Town Center. The unit features 2,250 square feet of vacant space, ideal for immediate occupancy or leasing, and 739 square feet currently leased to Snap Fitness until April 2033, generating a substantial annual net operating income (NOI) of $16,139.76 with 4% annual increases. The lease is a NNN (Net, Net, Net) agreement, meaning the tenant covers property taxes, insurance, and maintenance. The property is zoned PUD (Planned Unit Development) and was built in 2007. This investment benefits from exceptional demographics, with over 7,000 potential customers within walking distance and an average household income exceeding $75,000. The Venetian Bay Town Center is experiencing significant growth, with plans for over 4,000 homes at full build-out and 322 apartments currently under construction across the street. The condo association handles all building and grounds maintenance, minimizing management responsibilities. Building signage is also available. The asking price is $750,000. The APN is 7307-04-00-0020. This is a rare chance to capitalize on the explosive growth in East Volusia County.

Highlights

  • $750,000 asking price for this retail condo in New Smyrna Beach, Florida.
  • 2,989 square feet, with 2,250 square feet vacant and 739 square feet leased to Snap Fitness until April 2033.
  • NNN lease structure with a current annual net operating income (NOI) of $16,139.76, including 4% annual rent increases.
  • Built in 2007, located at 424 Luna Bella Lane, Unit B (Suite 133), APN 7307-04-00-0020, zoned PUD.
  • Owner/user investment opportunity in a high-growth area with excellent demographics and strong potential for future appreciation.

Property Details for 424 Luna Bella Ln Unit B

Property type
Retail properties
Square Feet
2,989 SF
Year Built
2007

Location Insight

City
New Smyrna Beach
County
Volusia
State
Florida
Latitude
29.0334167
Longitude
-81.0322695
424 Luna Bella Ln Unit B, New Smyrna Beach, Florida

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424 Luna Bella Ln Unit B
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