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16775 State RteClermont, FL 34711

Prime West Orlando location, high-traffic area.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional 61,000 square foot retail property, built in 2023, houses a Tesla Sales, Service, and Delivery Center. Situated on a 9.813-acre lot in Clermont, Florida, this single-tenant building boasts a prominent "auto row" location near other major dealerships, maximizing visibility and accessibility. The property features 589 parking spaces and benefits from a high-traffic location on State Route 50 (59,000+ vehicles per day) near the Florida Turnpike (102,500 AADT). The strong demographics of the area, with a population of 107,221 within a 5-mile radius and an average household income of $123,490 within 10 miles, contribute to its exceptional investment potential. The location is strategically positioned near major retailers such as Publix, Target, and Home Depot, as well as significant employers like Orlando Health South Lake Hospital and Lake-Sumter State College. This property offers a rare long-term lease structure with scheduled rent increases, providing a stable and secure investment opportunity. The 5.75% cap rate further enhances its attractiveness. Its proximity to the rapidly growing Orlando market, less than 20 miles from downtown, makes this a truly exceptional investment. The property benefits from excellent access to major arterials, including the Florida Turnpike and the 429 Expressway, ensuring convenient access for customers and employees.

Highlights

  • Corporate lease to Tesla, Inc.
  • Long-term lease with built-in rent increases.
  • Prime location, under 20 miles from Downtown Orlando.
  • Large 9.8-acre site on Highway 50, ample parking, and monument signage.
  • Tesla boasts investment-grade ratings from Moody's (Baa3) and S&P (BBB).
  • Easy access to West Orlando via Florida Turnpike and 429 Expressway.

Property Details for 16775 State Rte

Property type
Retail properties, Auto shops
Square Feet
61,000 SF
Year Built
2023
Buildings
1
Lot Size (sq. ft)
427,454 SF

Location Insight

City
Clermont
County
Lake
State
Florida
Latitude
28.5477534
Longitude
-81.6768506
16775 State Rte, Clermont, Florida

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16775 State Rte
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