For Sale
$4,200,000

760 Altamonte DrAltamonte Springs, FL 32701

Prime Retail Investment. 15-Year Lease.

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional investment opportunity presents a fee-simple ownership of a brand-new, 2,562 square foot Starbucks located at 760 E Altamonte Dr, Altamonte Springs, FL 32701. The property boasts a 15.1-year net lease, commencing December 16, 2024, and expiring January 1, 2040. The lease includes four 5-year options with a 10% rent increase every five years. The current Net Operating Income (NOI) is $199,500, resulting in a 4.75% cap rate on the $4,200,000 asking price. This Class A, single-tenant property is part of the Shoppes at Altamonte, a newly developed retail center in a high-traffic area with over 75,000 vehicles passing daily. The location benefits from excellent visibility on SR 436 (Altamonte Drive), proximity to Interstate 4 and US 17-92, and a strong demographic profile, including over 91,000 residents and 82,000 daytime employees within a 3-mile radius, with above-average household incomes exceeding $108,000. The property is situated across from AdventHealth Altamonte Springs hospital and near Altamonte Mall, ensuring high foot traffic and visibility. This is a rare opportunity to acquire a long-term, stable investment with built-in rent growth in a highly desirable Orlando MSA location. The building was constructed in 2024 and features a double drive-thru and patio.

Highlights

  • Excellent location in a super-regional trade area, near I-4 and US 17-92.
  • New 15-year lease with 10% rent increases every 5 years; tenant has a BBB+ S&P rating.
  • State-of-the-art store featuring a double drive-thru and patio.
  • Located within the Shoppes at Altamonte, a successful retail center with strong national tenants.
  • High visibility site on SR 436 and Maitland Ave, with over 75,000 vehicles passing daily.
  • Multiple access points from SR 436 and direct access for Maitland and Winter Park residents via a cross access easement.

Property Details for 760 Altamonte Dr

Property type
Retail properties
Square Feet
2,562 SF
Class
A
Year Built
2024
Buildings
1

Location Insight

City
Altamonte Springs
County
Seminole
State
Florida
Latitude
28.663044699676
Longitude
-81.364080394192
760 Altamonte Dr, Altamonte Springs, Florida

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760 Altamonte Dr
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