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KENT JONES COMMERCIAL PROPERTIES 713.446.3838 [email protected]
2880 Howland Blvd Deltona, FL 32725
• Proven Location for 20 Years
• New 10 year Renewal
• Absolute Triple Net Lease
• Recent Major Tenant Remodel
• Solid Sales History
KENT COMMERCIAL PROPERTIES
JONES
OFFERED BY
WINN-DIXIE STORES, INC., a subsidiary of Southeastern Grocers 2880 Howland Blvd, Deltona, FL 32725
PRICE: $6,950,000 | CAP RATE: 6.6%
NET OPERATING INCOME (NOI) $458,879
RENTABLE SQ. FT. 48,467
LAND AREA +/- 5.43 Ac. (236,531 sq. ft.)
LEASE TYPE Absolute Triple Net
LANDLORD RESPONSIBILITIES None
LEASE TERM 10 Years
LEASE EXPIRATION Jan 1, 2028
STORE OPENED Dec 1997
RENEWALS Four 5 year options
RENT PER SQUARE FOOT $9.47
TRAFFIC COUNTS 2017 34,000 on Howland Blvd; 12,000 on Catalina Blvd.
COMMENTS:
Deltona is located about 11 miles north of the Metro Orlando MSA and is considered a “bedroom community” of the Orlando area, as about one-half of the professional population commutes to Orlando. The Property is located on a major four lane boulevard at the lighted intersection of Howland & Catalina, and Howland is directly connected to Florida’s I-4 and the property is the first grocery market when coming into Deltona from I-4 / Howland.
OFFERING SUMMARY
2KENT JONES COMMERCIAL PROPERTIES 713.446.3838 [email protected]
OFFERING DETAILS
KENT JONES COMMERCIAL PROPERTIES is pleased to offer for sale a fee simple interest in a well established free standing Winn-Dixie Store located just outside the Orlando Metro area in Deltona, Florida.
The property consists of a 48,467 square foot retail building situated on 5.43 acres (236,530 sq. ft.) of land, which was constructed for and occupied by Winn-Dixie in 1997. The store has enjoyed great success over the past twenty years and most recently entered into a ten year lease extension, which runs to January of 2028 under an absolute triple net (NNN) lease with no landlord responsibilities.
Winn Dixie is has recently completed a substantial investment in the store, updating and remodeling the store consistent with its current branding of new stores and making improvements to the exterior, the parking lot, store & parking lot lighting along with numerous interior improvements and displays. This major investment in the store further confirms Winn-Dixie’s commitment to this particular store and its presence in the Deltona/Orlando marketplace.
WINN DIXIE STORES, INC. is a subsidiary of Southeastern Grocers, LLC, which is the fifth-largest supermarket chain in the United States based on store count. Founded in 1925, Winn Dixie employs more than 45,000 associates who serve customers in approximately 473 grocery stores with a majority having in-store pharmacies and 145 liquor stores throughout the five Southeastern states of Alabama, Florida, Georgia, Louisiana and Mississippi. Winn Dixie targets the value shopper looking for a convenient, local, full-service grocer offering very competitive prices.
Winn Dixie’s parent company, Southeastern Grocers, LLC is the fifth largest conventional supermarket chain in the U.S. and the second-largest conventional supermarket in the southeast based on store count. As of May 28, 2018 Southeastern Grocers, LLC successfully completed its financial restructuring and emerged from Chapter 11. They transformed their financial profile and beefed up their balance sheet by lowering overall debt levels by about $600 million, including $522 million of debt exchanged for equity in the reorganized company while maintaining their strong liquidity position. In addition to Winn Dixie, Southeastern Grocers operates the Bi-Lo, Harveys, and Fresco y Mas banners. The company has 580 grocery stores with a majority having in-store pharmacies and 145 liquor stores throughout the seven Southeastern states mentioned above. In 2012, BI-LO merged with Winn Dixie, and the parent company Bi-Lo Holdings was formed. In 2013, Bi-Lo Holdings acquired 72 Sweetbay stores, plus leases for 10 prior Sweetbay locations, 72 Harveys stores and 11 Reid’s stores, totaling 165 stores from Delhaize Group. In 2014, conversions for the formerly owned Delhaize stores to Bi-Lo Holdings ownership were completed. Reid’s banner stores were converted to BI-LOs, Sweetbay banner stores were converted to Winn-Dixies and Bi-Lo Holdings retained the Harveys banner. In 2015, Bi-Lo Holdings was officially renamed Southeastern Grocers. During 2016, Southeastern Grocers achieved sales of approximately $10.5 billion.
INVESTMENT HIGHLIGHTS
• Proven 20 year Location
• New 10 year Renewal p
• Absolute Triple Net Lease
• New Capital Improvements
• Solid Store Sales
PRICE: $6,950,000$% CAP RATE: 6.6%
3KENT JONES COMMERCIAL PROPERTIES 713.446.3838 [email protected]
POPULATION 2 MILES 3 MILES 5 MILES
2016 Population 16,364 44,733 107,332
2021 Population 34,908 89,945 183,004
2010-2017 Growth 1,809 12.4% 4,421 11.0% 10,256 10.6%
2010-2017 Avg. Annual Rate 1.80% 1.60% 1.50%
2017 Male Population 48.40% 48.30% 48.30%
2017 Female Population 51.60% 51.70% 51.70%
2017 Median Age 43 46 48
HOUSEHOLDS
2017 Total Households 5,561 16,091 39,794
2022 Total Households 6,021 16,896 41,655
2010-2017 Avg. Annual Rate 87 1.7% 214 1.5% 512 1.4%
2017-2022 Annual Rate 0.90% 0.70% 0.70%
2017 Average Household Size 2.9 2.8 2.6
MEDIAN HOUSEHOLD INCOME
2017 Median Household Income $63,906 $59,512 $56,916
2022 Median Household Income $66,871 $61,971 $59,202
AVERAGE HOUSEHOLD INCOME
2017 Average Household Income $64,467 $61,553 $62,216
2022 Average Household Income $64,833 $61,385 $61,135
DEMOGRAPHICS
Median Home Value
$161,424
Median Household Income
$63,906
Population
$63,906
4KENT JONES COMMERCIAL PROPERTIES 713.446.3838 [email protected]
ABOUT THE LOCATION
The City of Deltona was founded in 1962 by General Development Corp and the Mackle Bros. and is now
home to over 90,000 residents and is the largest city in Volusia County. It has an annual population
growth rate of approximately 1.4%. The City is just ten to twelve miles north of Metro Orlando and 30
miles southwest of Daytona and offers easy access to the employment base of Metro Orlando.
The Property itself is located on a major four-lane boulevard at the lighted intersection of Howland Blvd
& Catalina Blvd. Howland Blvd is directly connected to Florida’s I-4 and the property is the first grocery
market when coming into Deltona from the I-4 / Howland Interchange. The immediate area is where
most of the future residential and commercial growth is taking place and the City is actively promoting
development in this area. The City recently opened “The Center at Deltona”, a new state of the art
30,000 sq. ft. community center that can seat up to 7,500 with theater style seating for conferences,
trade shows, seminars, concerts and other community &/or school events. The Center is located on
Howland Blvd just a few blocks from the subject property. Additionally, Deltona High School is located
on Howland Blvd just 1.4 miles west of the property, which provides a healthy flow of traffic around the
property.
DELTONA, FL
DELTONA CITY HALL
GREEN SPRINGS PARK
LAKE MCGARITY THE CENTER AT DELTONA
5KENT JONES COMMERCIAL PROPERTIES 713.446.3838 [email protected]
CONFIDENTIALITY & DISCLAIMER
9KENT JONES COMMERCIAL PROPERTIES 713.446.3838 [email protected]
The information contained in this marketing brochure (“Materials”) is proprietary and confidential. It is intended to be reviewed only by the person or entity receiving the Materials from KENT JONES COMMERCIAL PROPERTIES (“Agent”). The Materials are intended to be used for the sole purpose of preliminary evaluation of the subject property/properties (“Property”) for potential purchase.
The Materials have been prepared to provide unverified summary financial, property, and market information to a prospective purchaser to enable it to establish a preliminary level of interest in potential purchase of the Property. The Materials are not to be considered fact. The information contained in the Materials is not a substitute for thorough investigation of the financial, physical, and market conditions relating to the Property.
The information contained in the Materials has been obtained by Agent from sources believed to be reliable; however, no representation or warranty is made regarding the accuracy or completeness of the Materials. Agent makes no representation or warranty regarding the Property, including but not limited to income, expenses, or financial performance (past present, or future); size, square footage, condition, or quality of the land and improvements; presence or absence of contaminating substances (PCB’s, asbestos, mold, etc.); compliance with laws and regulations (local, state, and federal); or, financial condition or business prospects of any tenant. A prospective purchaser must independently investigate and verify all of the information set forth in the Materials. A prospective purchaser is solely responsible for any and all costs and expenses incurred in reviewing the Materials and/or investigating and evaluating the Property.
By receiving the Materials you are agreeing to the Confidentiality and Disclaimer set forth herein.
KENT COMMERCIAL PROPERTIES
JONES
OFFERED BY
