Free Standing Retail/Commercial Buildings
531 Horatio Avenue, Maitland, Florida 32751
Sold: $420,000
Property Details
Property Type
Improved property
Building Type
Freestanding
Building Size
3,292 sqft
Land Size
12,780 sqft
Sewer
City of Maitland
Water
City of Maitland
Zoning
DMZD
Electric
Duke Energy
Year Built
1969
Roof
Metal & Shingle
Parking
18 Parking Spaces
Lease Type
399900
Construction
Block & Metal
Property Description
FREE STANDING RETAIL BUILDINGS
Two (2) centrally located buildings on two individual lots, as follows:
- 531 E. Horatio Ave (1.680 SF): Coin Laundry
- 150 N.Swoope Ave (1,612 SF): Sip & Knit store
Excellent opportunity for small investor to own income producing commercail property
Existing tenants wish to continue their occupancy beyond 12/31/13 existing lease terms. Existing leases at the following net rental rates:
- Maitland Coin Laundry: $1,550 per month, or $18,600 annually ($11.07 per SF)
- Sip & Knit retail store: $2,000 per month, or $24,000 annually ($14.89 per SF) *
* Sip & Knit currently on oral recession related reduced monthly rent of $1,600
Close proximity to major intersection of N. Orlando Ave (17-92) and Horatio Ave
High visibility location with 28,000 daily trips on Horatio Ave
Both buildings Sale Price: $399,900