750 Altamonte DrAltamonte Springs, FL 32701

Property Details for 750 Altamonte Dr

Year built

2024

Property size (Sq ft)

2,493 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

This exceptional investment opportunity presents a fee-simple ownership of a newly constructed, 2,493 square foot Chipotle restaurant located at 750 E Altamonte Dr, Altamonte Springs, FL 32701. The property boasts a brand-new, absolute NNN lease with a credit-rated corporate guarantor, ensuring consistent cash flow. The lease commenced December 16, 2024, and has a remaining term of 18.1 years, with four 5-year options, each including a 10% rent increase. The current annual net operating income (NOI) is $210,000, representing a 4.00% cap rate on the $5,250,000 asking price. This Class A property is situated in a high-traffic area with excellent visibility along State Road 436, benefiting from over 75,000 vehicles per day. The location is part of the Shoppes at Altamonte, a redevelopment project featuring other highly sought-after national brands. The property benefits from a strong demographic profile, with over 91,000 residents and 82,000 daytime employees within a 3-mile radius, and above-average household incomes exceeding $108,000 within the same area. The site's proximity to major roadways, including Interstate 4 and US 17-92, and its adjacency to AdventHealth's Altamonte Springs hospital campus further enhance its desirability. This is a rare opportunity to acquire a high-performing, long-term net lease investment in a prime Orlando MSA location.

Location Insight

City

Altamonte Springs

County

Seminole

State

Florida

Latitude

28.663

Longitude

-81.3644

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