For Sale
$4,895,000

517 Lake Destiny DrOrlando, FL 32810

High-traffic, stabilized income property.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional mixed-use property, located at 517 S Lake Destiny Dr, Orlando, FL 32810, presents a compelling investment opportunity. The 9,320 square foot building, constructed in 1985, sits on a one-acre lot and boasts a desirable I-1 zoning designation, offering flexibility for various uses. Currently occupied by an established catering/special event tenant under a new 10-year modified gross lease with annual rent bumps (highest of 3% or CPI), this property generates a strong NOI of $228,000, resulting in a 5.00% cap rate. The asking price is $4,895,000 ($525.21/sq ft). The two-story building benefits from high visibility, with over 170,000 vehicles passing daily on I-4, and excellent signage opportunities facing the interstate. Its central Orlando location is convenient to major retail businesses and dealerships, including BMW, MINI, Alfa Romeo, and Home Depot. The exterior has recently been repainted. This stabilized investment offers a secure, long-term income stream with built-in annual rent growth. The property's prime location and strong tenant history make it an attractive addition to any portfolio.

Highlights

  • New 10-year modified gross lease with annual rent increases.
  • Established catering/event tenant with 10+ years in the Orlando market.
  • High visibility: over 170,000 vehicles daily on I-4.
  • Excellent I-4 building signage.
  • Central Orlando location.
  • 9,000+ square foot space.

Property Details for 517 Lake Destiny Dr

Property type
Specialty properties, Retail properties
Square Feet
9,320 SF
Year Built
1985
Buildings
1
Stories
2
Lot Size (sq. ft)
43,560 SF

Location Insight

City
Orlando
County
Orange
State
Florida
Latitude
28.612935682257
Longitude
-81.386866942738
517 Lake Destiny Dr, Orlando, Florida

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517 Lake Destiny Dr
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