730 Altamonte DrAltamonte Springs, FL 32701

  • Retail properties
  • 3,835 SF
For Sale
$3,603,622 View listing

Property Details for 730 Altamonte Dr

Year built
2024
Property size (Sq ft)
3,835 SF
Property type
Retail properties
Property subtype
Other retail properties

Description

This exceptional investment opportunity presents a fee-simple ownership of a brand-new, free-standing Panera Bread restaurant in Altamonte Springs, Florida. The property boasts 3,835 square feet and is situated on a highly visible location along East Altamonte Drive (State Road 436), a heavily trafficked corridor with over 75,000 vehicles passing daily. This is a relocation of an existing, successful Panera Bread from a nearby location, ensuring a strong, established tenant. The property features a drive-thru and patio, maximizing customer convenience. The absolute NNN lease commenced December 16, 2024, and has a remaining term of 16.1 years, with 9% rent bumps every 5 years and five 5-year lease options. The current Net Operating Income (NOI) is $162,163, resulting in a 4.50% cap rate. The property is part of the Shoppes at Altamonte, a newly developed retail center featuring other highly sought-after national brands. The location benefits from a strong demographic profile, with average household incomes exceeding $108,000 within a 3-mile radius. Its proximity to major roadways like Interstate 4 and US 17-92, along with its adjacency to AdventHealth Altamonte Springs hospital and Altamonte Mall, further enhances its desirability. The property offers multiple access points, ensuring easy accessibility for customers. This is a rare opportunity to acquire a high-quality, passively managed investment with significant long-term growth potential. The asking price is $3,603,622.

730 Altamonte Dr, Altamonte Springs, Florida

Location Insight

City
Altamonte Springs
County
Seminole
State
Florida
Latitude
28.6631
Longitude
-81.3652

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