#SWL Real Estate
(formerly Aswin Suri Real Estate)
Daytona Beach Real Estate
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(formerly Aswin Suri Real Estate)
FLORIDA LUXURY WATERFRONT REAL ESTATE
712-363-1099

Florida Luxury Homes For Sale /  

Investment Opportunity in New Smyrna Beach

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New Smyrna Chevrolet investment opportunity at 1919 North Dixie Freeway in New Smyrna Beach, FL. The largest dealership in the “New Smyrna Auto Mile,” New Smyrna Chevrolet also boasts the trade area’s most modern facility. This is a unique opportunity to acquire a well located property with a NNN lease to the Sonic Automotive Group (NYSE: SAH). The acquisition offers investors a committed tenant and predictable rent with scheduled escalations.

INVESTMENT HIGHLIGHTS

Purchase Price: $13,250,000

Cap rate: ±7.75%

NOI: ±$1,026,000

Approx. Building Size: Approx. 75,000 sq. ft.

Approx. Lot Size: 6.56 acres

Year Built: 1998

Tenant: Sonic Automotive

Subtenant: New Smyrna Chevrolet

Lease Commence Date: August 13, 1999

Lease Expiration Date: July 31, 2015

Zoning: B-3, Highway Service Business

 

Significant rent escalation in 2009 and 2014

Prime US-1 location surrounded by auto dealerships,

service centers, retail and restaurants

 

±900 feet of frontage on busy US-1Daily traffic count: 29,000

 

Master Tenant:

 

Sonic Automotive, Inc. (NYSE: SAH) is a Fortune 300 company based in Charlotte, North Carolina, and is one of the largest automotive retailers in the United States. The company was founded by NASCAR track owner Bruton Smith. Sonic Automotive operates in 15 states with 176 dealerships and represent 35 different brands of automobiles. These dealerships provide numerous services including sales of new and used cars, sales of replacement parts, vehicle maintenance, warranty, paint and collision repair services, and arrangement of extended warranty contracts, financing, and insurance for the company's customers. Sonic's annual revenue is roughly $8 billion. NNN lease


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All listing information is deemed reliable but not guaranteed and should be independently verified through personal inspection by appropriate professionals. Listings displayed on this website may be subject to prior sale or removal from sale; availability of any listing should always be independent verified. Listing information is provided for consumer personal, non-commercial use, solely to identify potential properties for potential purchase; all other use is strictly prohibited and may violate relevant federal and state law. The source of the listing data is as follows: Daytona Beach Area Association of REALTORS (updated 6/23/18) , My Florida Regional MLS (updated 6/23/18)
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Aswin Suri Real Estate
552 N Oleander Ave
Daytona Beach, FL 32118
 
712-363-1099