718 Altamonte DrAltamonte Springs, FL 32701
- Retail properties
- 16,014 SF
Property Details for 718 Altamonte Dr
- Year built
- 2024
- Lot size
- 4.59 AC
- Property size (Sq ft)
- 16,014 SF
- Property type
- Retail properties
- Property subtype
- Other retail properties
Description
This exceptional investment opportunity presents a portfolio of five Class A retail properties totaling 16,014 square feet, situated on a 4.59-acre lot in Altamonte Springs, Florida. The portfolio features a diverse lineup of nationally recognized tenants including Starbucks, Chick-fil-A, Chipotle, Panera Bread, and Raising Cane's, all operating under absolute NNN leases with corporate guarantees and credit ratings. The properties boast a strong Net Operating Income (NOI) of $1,001,763, yielding a 4.46% cap rate at an asking price of $22,436,479. Built in 2024, these single-story buildings are strategically located on East Altamonte Drive (State Road 436), a high-traffic corridor with over 75,000 vehicles passing daily. The location benefits from excellent visibility and accessibility, with multiple access points and proximity to major roadways like Interstate 4 and US 17-92. The portfolio is further enhanced by its location near a significant concentration of residents and employees, boasting above-average household incomes within a 3-mile radius. Four of the five tenants have initial lease terms ranging from 15 to 18 years, with fixed rental rate increases of 9% to 10% every five years, ensuring long-term passive income and strong appreciation potential. The occupancy date is December 16, 2024. This is a fee simple ownership opportunity.
Location Insight
- City
- Altamonte Springs
- County
- Seminole
- State
- Florida
- Latitude
- 28.6631
- Longitude
- -81.3649
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
- How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
- Please email our support team at [email protected] and they will add the team member.
- How do I access a private listing?
- Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
- 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.
- How do I unsubscribe from emails?
- At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].