ALIKI PLAZA | A1A FRONTAGE | 7.57% Y2 PROFORMA | 17K+… — Sale in Ormond Beach, FL
- Price: Contact for price
- Listing type: For sale
- Asset type: Retail Property
- Location: Ormond Beach, FL 32176
Photos
Investment Figures
- Cap rate
- 6.39%
Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.
Description
Marcus & Millichap is pleased to present the opportunity to acquire 400 S Atlantic Ave, a 29,730 SF multi tenant asset situated directly on A1A, offered at $222/ SF. The property provides an attractive Year 1 cap rate at 6.39% with a projected year 2 proforma cap at 7.57% as occupancy increases and below market rents are renewed closer to market levels. Net rents are currently $14.19/SF with market asking rents at $20.43/SF (according to CoStar), providing upside through rental increases. Tenants operate under NNN lease structures with expense reimbursements, supporting long term cash flow and reducing landlord exposure to operating expenses. Positioned directly on A1A, the property benefits from exposure to approx. 17,800 VPD and is located within the established and growing Ormond Beach commercial corridor. Surrounded by residential neighborhoods, hospitality venues, restaurants, and national retailers. The surrounding submarket maintains a retail vacancy rate of approx. 4.1%, while the property benefits from a dense local population of 97,370 (5-mile radius according to CoStar) and an average HH income of $95,945 (1 mile according to CoStar). Investment Highlights: • Attractive Going-In Returns With Proforma Growth: Offered at a 6.39% Yr 1 Cap, with the opportunity to increase returns to an est. 7.57% Yr 2 proforma through lease up, renewals, and rental growth. • NNN Lease Structure: Current tenants operate under NNN leases, providing expense reimbursements and reducing the landlord's exposure to property-level operating costs. • Prominent A1A Frontage: positioned directly along A1A with approx. 17,800 VPD, the property benefits from strong visibility and convenient access within the Ormond Beach market. • Additional Growth Potential: Current market asking rents of $20.43/SF with the subject properties in place net rents at $14.19/SF, providing upside as leases roll over and renew. • Located within an established Ormond Beach commercial corridor surrounded by re
Market Context
This retail in Ormond Beach, FL is listed for sale. It is offered at an approximate 6.4% capitalization rate, a key benchmark for income-producing retail assets. Compare it against other retail listings for sale in Ormond Beach, FL — view the full market.
Estimated Price per SF
$60.42/SF – $439.39/SF
Mid: $183.08/SF
About 8 in 10 recent recorded sales fell within a range this wide around the estimate. An automated estimate, not an appraisal.
Contact the listing broker
This listing comes from the Marcus & Millichap website. CREhunt does not pass messages to the broker. Contact the broker directly.
- Tarek Chbeir · (407) 557-3834 · tarek.chbeir@marcusmillichap.com
- Garrett Fierstein · (407) 557-3862 · garrett.fierstein@marcusmillichap.com
Questions to ask the broker
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- What is the asking price?
- What is the current zoning, and does it allow my intended use?
- How many parking spaces come with the property?
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