For Sale
$1,250,000

2563 Park Dr Sanford, FL 32773

High-Yield Retail Center, Sanford, FL

Overview

Added:
Dec 11, 2024
Days on market:
135
This exceptional 10,623 square foot shopping center in Sanford, Florida, presents a compelling value-add opportunity. Currently 100% occupied with six units, the property boasts a strong NOI of $85,378, yielding a 6.83% cap rate at the $1,250,000 asking price. However, with below-market rents and leases expiring within one year, a significant pro-forma NOI of $174,355 and a 13.95% pro-forma cap rate are projected. Built in 1957 and renovated in 1980, this single-story building sits on a 31,363 square foot lot, zoned GC2. Its prime location near I-4 and SR 417 provides easy access to Orlando and Daytona Beach, while proximity to Orlando Sanford International Airport enhances its appeal. The thriving Sanford market, with its diverse economy and growing population, ensures strong tenant demand. This property offers immediate cash flow with substantial upside potential through lease renewals at market rates and potential property improvements. The current tenant mix provides stability and reduced risk. This is a rare opportunity to acquire a well-located, income-producing asset with significant value appreciation potential in a rapidly growing market.

Highlights

  • 6.5%+ cap rate at asking price.
  • Significant rental upside with leases expiring within one year.
  • Below-market rents offer immediate value enhancement.
  • Located in the high-growth Sanford market.
  • Diverse tenant base provides stable cash flow.
  • Excellent potential for NOI growth through lease-up and improvements.

Property Details for 2563 Park Dr

Property type
Lifestyle centers, Power centers
Square Feet
10,623 SF
Class
C
Year Built/Renovated
1957/1980
Buildings
1
Stories
1
Units
6

Location Insight

City
Sanford
County
Seminole
State
Florida
Latitude
28.782824
Longitude
-81.271253

FAQs

What type of property is this?
Lifestyle center - High-Yield Retail Center, Sanford, FL
Where is the lifestyle center located?
The property is located at 2563 Park Dr Sanford, FL.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: 6.5%+ cap rate at asking price.; Significant rental upside with leases expiring within one year.; Below-market rents offer immediate value enhancement.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
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2563 Park Dr
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