Investment Highlights
- Recently Extended, Brand New, 10-Year, NNN Lease with Two, Five-Year Renewal Options
- 7.5 Percent Rent Increase in Year 6; and 10 Percent in Each Option Period
- Tenant Has Operated From This Location for More Than 20 Years, Showing a Strong Commitment to the Site
- Part of the Daytona Beach Metro Area – Home to a Diverse and Expanding Business and Industrial Community
- Located on Ridgewood Avenue with a Daily Traffic Count of More Than 21,000 Vehicles
- Population Over 115,000 Within Five Miles of Property
- Less Than Five Miles from Daytona International Speedway, and Daytona Beach International Airport
- One Mile from Daytona Beach, and Daytona Beach Main Street Pier
Investment Overview
Marcus & Millichap is pleased to present the opportunity to acquire a Value Pawn & Jewelry in Holly Hill, Florida in the Daytona Beach MSA. This Value Pawn offers a newly extended, 10-year triple net lease. This lease has two, five-year renewal options and rent increases every five years. Rent increases include 7.5 percent in year six of base term, and 10 percent in each option period. Having operated from this location for more than 20 years, the Tenant shows a strong commitment to the site.
The subject property is located on Ridgewood Avenue which has a daily traffic count of more than 21,000 vehicles. The area has very strong traffic counts and demographics, with a population of over 115,000 within five miles of the subject property. The immediate area is home to hundreds of hotels due to the close proximity to the beach and Daytona International Speedway. Tourism is the largest economic driver in the Daytona Beach metro area.
Value Pawn is one mile from Daytona Beach and Daytona Beach Main Street Pier. The subject property is also three miles from Daytona State College with an enrollment of more than 27,000 students, and Halifax Health Medical Center. Less than five miles from Daytona International Speedway, which generates an estimated $1.6 billion annually for the local economy.
