The 44 pad mobile home and RV park located at 19 N. Yonge Street in Ormond Beach sold for $1,625,000. The 2.67 acre corner property has prime redevelopment potential.
Carl W. Lentz IV MBA, CCIM with SVN Alliance Commercial Real Estate Advisors represented the buyer in this transaction. Michael Baxter, also with SVN Alliance, represented the seller.
DAYTONA BEACH SHORES, FL – JPMorgan Chase Bank purchased 2970 S. Atlantic Avenue in Daytona Beach Shores, FL for $1,250,000.
The existing building will be razed to make way for a new Chase Bank branch across the street from the ocean and next to the Daytona Beach Shores City Hall.
Carl W. Lentz, CCIM with SVN Alliance Commercial Real Estate Advisors represented both the buyer and the seller in this transaction.
Chase is rapidly expanding its footprint in East Volusia with new branches at:
1520 West Granada Blvd, Ormond Beach on SW Corner of Williamson and W Granada. It was a former gas station and opened in 2019.
1808 W International Speedway Blvd, Daytona Beach at the Shoppes at One Daytona-Ground Lease. The Grand Opening is scheduled for December 2019
Liberty Garden, LLC recently paid $1,025,000 for +/- 13.5 acres of vacant land near the Southeast corner of the intersection of Jimmy Ann Drive and Mason Avenue. The property consists of two parcels and the buyer’s intention is to build multi-family units or an active senior rental complex. Current zoning allows for 200+ units. The buyers anticipate having all engineering completed by the Spring of 2018 with construction beginning mid 2018.
Carl W. Lentz IV, Managing Director at SVN Alliance, negotiated the transaction representing the sellers, Comtrust Holding II, LLC and LFS Properties, LLC. Frank Costa, Broker/Owner of Liberty Group Realty, Inc. represented the buyers, Liberty Garden, LLC.
Lentz stated, “We continue to see growth in many of the commercial real estate sectors as a direct result of the large scale projects in the area. This site has been on the market for several years. Market conditions and timing are now right to make this type of project profitable. We anticipate additional large land sales in the area in the near future for similar projects.”