780 Altamonte DrAltamonte Springs, FL 32701

Property Details for 780 Altamonte Dr

Year built

2024

Property size (Sq ft)

3,224 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

This exceptional investment opportunity presents a fee-simple ownership of a newly constructed, 3,224 square foot Raising Cane's restaurant in Altamonte Springs, Florida. Located within the Shoppes at Altamonte, a premier retail center, this Class A property boasts a 15.1-year absolute NNN lease commencing December 16, 2024, and expiring January 1, 2040. The lease includes a corporate guarantee from Raising Cane's, a highly successful fast-food chain projected to exceed $4.5 billion in system-wide sales and achieve a $6 million average unit volume (AUV) in 2024. The property features a modern design, including a double drive-thru and patio, and benefits from a high-traffic location on State Road 436, with over 75,000 vehicles passing daily. Situated near Interstate 4 and US 17-92, this location enjoys excellent visibility and accessibility within a densely populated area with above-average household incomes. The lease provides for fixed 10% rent increases every five years, ensuring consistent income growth. With a current net operating income (NOI) of $200,000 and a 4.00% cap rate, this investment offers a compelling return on investment. The property is part of a larger development anchored by other highly sought-after national retail tenants, further enhancing its value and long-term stability. The asking price is $5,000,000. This is a rare opportunity to acquire a strong-performing, passively managed asset in a thriving market.

Location Insight

City

Altamonte Springs

County

Seminole

State

Florida

Latitude

28.6631

Longitude

-81.3632

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