5076 North LnOrlando, FL 32808

Property Details for 5076 North Ln

Year built

1986

Lot size

1.88 AC

Property size (Sq ft)

21,600 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

This Orlando, FL shopping center presents a compelling value-add opportunity. The 21,600 square foot, single-story Class B property, built in 1986 and renovated in 2020, sits on a 1.88-acre lot and features 11 units currently occupied at 79.6%. Nine tenants generate a current NOI of $198,258, with a pro-forma NOI of $293,052 projected. The asking price is $2,904,000 ($134.44/sq ft), representing a 6.83% cap rate and a pro-forma cap rate of 10.09%. Significant upside potential exists due to a 20.4% vacancy rate, compared to a 3.5% market average, and below-market average rents of $16.30/sq ft (market average $29.48/sq ft). The property benefits from a prime location near major retailers like Walmart, 7-Eleven, and Walgreens, ensuring high visibility and traffic. Lease options and fee simple ownership are available. The property's 2020 roof replacement minimizes future capital expenditure needs. This investment offers a strong cash-on-cash return based on potential lease-up and operational improvements.

Location Insight

City

Orlando

County

Orange

State

Florida

Latitude

28.5959

Longitude

-81.4504

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