Waffle House Strikes Again – closes on fourth Daytona Location

Posted by admin on May 18, 2017 under by Tim Davis, Commercial Real Estate Definitions | Be the First to Comment

Waffle House restaurants has completed the purchase of 319 Seabreeze Blvd, making the fourth location added in the last year. 319 Seabreeze Blvd is a 1.1 acre site located on the corner of Seabreeze and Oleander Ave. Two locations in Port Orange, a location in Daytona Beach Shores was purchased earlier this month, and now in Daytona Beach. The Seller was Steiner Inc, out of Palm Beach Gardens. Tim Davis of SVN Alliance represented by the Seller and Waffle House in this transaction.

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Waffle House Continues Expansion – New Daytona Beach Shores Location

Posted by admin on April 24, 2017 under by Tim Davis, News Releases | Be the First to Comment

4/24/17

Waffle House Restaurants is continuing the aggressive expansion into Volusia County with the acquisition of the 3200 S. Atlantic Ave in Daytona Beach Shores. The site was a former restaurant that was closed 3 years ago. Waffle House plans to demolish the existing structure and building their newest prototype store. The purchase price was $435,000.

In the last year Waffle House has purchased and constructed a new store at  3740 S Nova Rd in Port Orange, and continues to look at attractive sites in the market.

 

Tim Davis of SVN Alliance Commercial Real Estate Advisors represented the Seller and Buyer in this transaction. 

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9,000 SF Industrial Warehouse Sale, Local Company Expanding

Posted by admin on March 21, 2017 under by Tim Davis, News Releases | Be the First to Comment

File_001The 9,000 SF industrial warehouse located at 6 Aviator Way in the Ormond Airport Industrial Park has sold. The sale date was March 17th, for the sum of $500,000. The seller was a family trust based in Kentucky, but more importantly the buyer has a user for the building immediately. Another company in the industrial park will be expanding operations. Details on that have not yet been disclosed, but stay tuned for more.

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Florida Labor Market adds 54,300 jobs in January

Posted by admin on March 13, 2017 under by Tim Davis, Commercial Real Estate Definitions, News Releases | Be the First to Comment

A Labor report from Wells Fargo economists shows that Florida added 0.6% of new non-farm employment in January for a total of 54,300 jobs. The research shows that 10,700 of these are construction jobs, with the balance consisting of professional services, wholesale trade, and manufacturing sectors. The year over year gain is now at 3.2%. The charts below shows the unemployment rate holding at near 5% statewide.Screen Shot 2017-03-13 at 3.44.57 PM

Graphic courtesy of Wells Fargo Bank NA.

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Sold – 1620 S. Atlantic Ave Land Sale, Daytona Beach .64 ac

Posted by admin on September 22, 2016 under by Tim Davis, daytona beach commercial real estate, Daytona Commercial Real Estate, News Releases | Be the First to Comment

9/12/16

A 0.64 acre site on the west side of South Atlantic Ave has sold. The site at 1620 S. Atlantic is directly across from the Holiday Inn Beach Resort, and is the site of the former Steve’s Famous Diner and later Marco’s Italian. The structure has fallen into what is believed to be irrecoverable condition over the last few years, and the sale price of $600,000 demonstrates this was a land-value only transaction.

The seller was an investment company from Orlando, Humphrey Investments who purchased the property several years ago as an investment in the recovery of Daytona’s beachside. The recent sale of the neighboring Holiday Inn Beach Club for $27M certainly proves that growth. The buyer was a related company to the Nautilus Inn just north of the site. They plan to redevelop the site for some other retail use and to provide additional parking for the hotel.

Tim Davis of SVN Alliance represented the Buyer and Seller.

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Multi-tenant Industrial Sale – 38,000 SF

Posted by admin on August 17, 2015 under Uncategorized | Be the First to Comment

J&G Industrial Park in Holly Hill Florida has sold. The 38,5000 SF building sold on August 14th, for $1,000,000, or $26.50 per square foot. At the purchase price, the  acquisition cap rate of 9.7%.  The building was 85% occupied by 17 individual tenants at the time of sale. The Seller had owned and operated the industrial park for nearly 30 years, and the sale was driving by the desire to recycling the equity into less management intensive property.

 

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Beachside Multi-Family Apartment Sells in Daytona Beach Shores

Posted by admin on July 8, 2015 under by Tim Davis, investment property for sale in daytona beach, News Releases | Be the First to Comment

The Sea Shell Villa, an eleven unit apartment building at 3760 S. Atlantic Ave in Daytona Beach Shores has sold. The property closed July 6, for $860,000. The property is located on the west side of A1A, with direct beach access. The Seller was Tom Thornton of Lockbourne Ohio, the purchaser was Ramesh Yeluri of Taylor Michigan.

This sale is significant for two reasons; first it represents another transaction by an out-of-state party making a significant investment in a beachside real estate. The Buyer’s interest was driving largely by the exciting pipeline of projects for beachside Daytona Beach. Secondly, the sale price represents a 7.6% capitalization rate. This is a near record low cap rate for a low-rise garden style multi-family property in the Daytona Beach area.

Charles Wayne Properties, Inc. is one of Central Florida’s largest commercial real estate brokers.  It manages, leases or owns in excess of 1,500,000 sq. ft. of retail and office properties, and has offices in Orlando, DeLand, Melbourne, Ocala and Daytona Beach.


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235′ Oceanfront Parcel – SOLD

Posted by admin on April 29, 2015 under by Tim Davis, News Releases | Be the First to Comment

The oceanfront land located at 3167 S. Atlantic Avenue, in Daytona Beach Shores has sold for $2,950,000. The site features 235’ of frontage, and 275’ in depth to the seawall. The Seller, Strand Property Partners LLC, purchased the site in 2004 for the purpose of developing a 118 unit condo project. When the economic conditions derailed that project in 2008, the Owners decided to forgo development of the site. The Seller’s listed the property in May 2013 for $3,700,000.

The Buyer is the County of Volusia, who plans to develop the site into a public use facility, providing beach access and parking open to all residents and visitors of Volusia County.

Tim Davis represented the parties in this transaction.

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200′ Oceanfront Land Parcel – Sold

Posted by admin on August 12, 2014 under by Tim Davis, daytona beach commercial real estate, Daytona Commercial Real Estate, News Releases, Uncategorized | Be the First to Comment

The 1.28ac parcel at 834 N. Atlantic Ave has sold for $2,200,000. This is just under $40/SF, and now the highest sale per square foot, compared to any of any of the sites 200′ or greater.  The seller was DB Investments of Pinellas, who purchased the site as bank-owned foreclosure in July of 2011. This sale represents the first oceanfront land sale between 2 private parties since late 2007. It is also the first of the formerly bank-owned foreclosed parcels to re-trade from an pure investor to a group with development plans; this is a significant step forward for the beachfront property in Daytona Beach.

During the low part of the recession, there was a fair amount of negative publicity around the outside investment by private equity groups and real estate funds. The fears voiced at that time were that these outside investors would “sit on” the land for a decade or more, and that it would stall redevelopment of Daytona Beach. My counterpoint to those fears; Investors place money in assets seeking a desired rate of return. If that targeted return can be achieved in 20 years or 20 days, that is the event that triggers the sale the investment.

 

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Ormond Beach Retail / Warehouse/Showroom – Sold

Posted by admin on June 5, 2014 under Uncategorized | Be the First to Comment

A Texas based real estate investment group, MDD Enterprises has purchased  the building located at 912 S. Nova Road in Ormond Beach. The 6,000 SF single tenant building has a good local tenant in place, and represented a opportunity for the buyer to purchase a well-located building on a high-traffic arterial roadway. The purchase price represents a comfortable rate of return for an industrial warehouse building with a retail showroom/offices. Long term upside for the buyer lies in the Ormond beach location lending itself to future redevelopment of the site for a more intensive retail use. The buyer was represented by Tim Davis of Charles Wayne Properties.

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