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Airport Business Park 9 W Tower Cir 53,330 SF 100% Leased Industrial Building Ormond Beach, FL 32174 $9,225,163 CAD ($172.98 CAD/SF) 5.41% Cap Rate
INVESTMENT HIGHLIGHTS
- Absolute NNN Sale-Leaseback to Original Operator: Leased to ITA Acquisition LLC (dba Mirasol Shutters) under a 12-year absolute NNN lease through 2034
- Below-Market Rent with Embedded Upside: Current rent of $6.80/SF NNN is materially below regional industrial market rents ($9–$11 /SF NNN+)
- Strategic North Florida Location: Positioned in Airport Business Park, minutes from I-95, I-4, U.S. 1, and Ormond Beach Municipal Airport
- Mission-Critical Manufacturing Facility: The tenant designs and manufactures its flagship Mirasol Shutter line from this property
- Attractive Basis and Yield Growth: Offered at $6.7M ($125/SF), well below replacement cost for comparable Florida industrial product
EXECUTIVE SUMMARY
Kyle Matthews
License # CQ1066435 (FL)
Matthews Real Estate Investment Services, Inc
1600 West End, Ste. 1500 Nashville, TN 37203
(866) 889-0550
License # CQ1066435 (FL)
Matthews Real Estate Investment Services, Inc
1600 West End, Ste. 1500 Nashville, TN 37203
(866) 889-0550
PROPERTY FACTS
| Price | $9,225,163 CAD | Building Class | B |
| Price Per SF | $172.98 CAD | Lot Size | 3.34 AC |
| Sale Type | Investment | Rentable Building Area | 53,330 SF |
| Cap Rate | 5.41% | No. Stories | 1 |
| Property Type | Industrial | Year Built | 1996 |
| Property Subtype | Warehouse |
| Price | $9,225,163 CAD |
| Price Per SF | $172.98 CAD |
| Sale Type | Investment |
| Cap Rate | 5.41% |
| Property Type | Industrial |
| Property Subtype | Warehouse |
| Building Class | B |
| Lot Size | 3.34 AC |
| Rentable Building Area | 53,330 SF |
| No. Stories | 1 |
| Year Built | 1996 |
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PROPERTY TAXES
| Parcel Number | 4218-02-00-0560 | Improvements Assessment | $2,780,613 CAD |
| Land Assessment | $275,445 CAD | Total Assessment | $3,056,058 CAD |
PROPERTY TAXES
Parcel Number
4218-02-00-0560
Land Assessment
$275,445 CAD
Improvements Assessment
$2,780,613 CAD
Total Assessment
$3,056,058 CAD
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Airport Business Park | 9 W Tower Cir
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