4510 92Casselberry, FL 32707

Property Details for 4510 92

Year built

1994

Lot size

2.70 AC

Property type

Retail properties

Property subtype

Retail space

Description

This exceptional investment opportunity presents a fee-simple ownership of a 25,464-square-foot PetSmart storefront in Casselberry, Florida. Located on US Hwy 17-92, a high-traffic thoroughfare averaging 66,000 vehicles per day, this property benefits from strong tenant synergy within a larger development including Target, Taco Bell, and Steak 'n Shake. The single-tenant, absolute NNN lease with a credit-rated PetSmart boasts a remaining term of 7.8 years, with four 5-year lease options and 7.5% rent increases every five years. The property features a 6.00% cap rate and a substantial NOI of $318,971. Built in 1994 and renovated in 1995, this one-story building sits on a 2.7-acre lot. The lease commenced August 1, 1994, and expires August 31, 2032. The property's location within a dense demographic area, boasting over 241,000 residents and 128,000 employees within a 5-mile radius, and an average household income of $101,254, ensures consistent performance. The Casselberry area exhibits robust growth, with a 1.58% annual population increase and a 6.63% increase since the last census. This investment offers a secure, long-term, high-yield return with a nationally recognized tenant in a prime retail location. The asking price is $5,316,000.

Location Insight

City

Casselberry

County

Seminole

State

Florida

Latitude

28.6707

Longitude

-81.3407

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