446 Rinehart RdLake Mary, FL 32746

Property Details for 446 Rinehart Rd

Year built

2023

Lot size

1.60 AC

Property size (Sq ft)

7,224 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

This exceptional investment opportunity presents a fee-simple interest in a brand-new, 7,224 square foot Class A retail building situated on a 1.6-acre lot in Lake Mary, Florida (Orlando MSA). Completed in 2023, the property boasts 100% occupancy with three national tenants: Urgent Vet, 100% Chiropractic, and Rumble Boxing, all under 10-year NNN leases featuring annual rent bumps. The property offers a compelling 5.90% cap rate and a strong NOI of $289,976. The strategic location is adjacent to Orlando Health's new Lake Mary Campus (250+ beds), ensuring high visibility and foot traffic. The building provides ample parking (5 spaces per 1,000 sq ft). This multi-tenant retail center presents a secure, high-return investment with significant long-term growth potential. The asking price is $4,914,000, translating to $680.23 per square foot. This is a 1031 exchange-eligible property. The property is part of a larger development including medical office buildings, further enhancing its value and appeal. The tenant mix is synergistic, creating a strong and stable revenue stream.

Location Insight

City

Lake Mary

County

Seminole

State

Florida

Latitude

28.7713

Longitude

-81.3478

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