15 Charles Richard Beall BlvdDeBary, FL 32713

Property Details for 15 Charles Richard Beall Blvd

Year built

2008

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

2.00 AC

Property size (Sq ft)

14,853 SF

Property type

Retail properties

Property subtype

Retail space

APN

8027-14-00-0010

APU

802714000010

Description

This exceptional investment opportunity presents a fee-simple, single-tenant Walgreens located at 15 N Charles Richard Beall Blvd, DeBary, FL 32713. The 14,820 square foot property, built in 2008, sits on a 2-acre lot and boasts a strong 7.00% cap rate, generating a net operating income (NOI) of $405,000. The absolute NNN lease with Walgreens extends to April 30, 2033, leaving approximately 8.4 years remaining, eliminating all landlord responsibilities. The asking price is $5,785,714, translating to a price per square foot of $390.40. This prime retail location benefits from high visibility on a signalized intersection with approximately 29,000 vehicles per day, and its proximity to Interstate 4 (over 130,000 vehicles daily) further enhances its accessibility. The property's strategic position within a medical corridor, near the Debary Health and Rehabilitation Center (120 beds), a VA clinic, and Florida Hospital Fish Memorial Hospital, ensures a consistent customer base. The area's robust demographics, with a 5-mile radius population of approximately 87,636 and an average household income of $71,763, contribute to the property's long-term viability. Furthermore, the presence of a nearby Amazon fulfillment center and a planned second facility, along with a new industrial park, signifies significant growth potential in the area. The existing financing, available for assumption at a below-market rate, presents an added advantage for potential buyers.

• CAP approach

  CAP return

  Valuation

  6%

  $3,716,581

  6.5%

  $3,430,690

  7%

  $3,185,641

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,178,262

  Geo Method

  $4,178,262

• Alternative Use

  Use

  Valuation

  Residential

  $2,893,916

  Hospitality

  $2,650,811

  Educational

  $2,205,444

  Medical

  $2,281,292

  Retail

  $3,430,690

Location Insight

City

Debary

County

Volusia

State

Florida

Latitude

28.8907

Longitude

-81.306

CBSA code

19660

CBSA name

DELTONA-DAYTONA BEACH-ORMOND BEACH, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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