760 Altamonte DrAltamonte Springs, FL 32701

Property Details for 760 Altamonte Dr

Year built

1970

Construction

CONCRETE BLOCKS

Lot size

1.69 AC

Property size (Sq ft)

30,640 SF

Property type

Retail properties

Property subtype

Community centers

APN

12-21-29-5BE-0000-4290

APU

1221295BE00004290

Description

This exceptional investment opportunity presents a fee-simple ownership of a brand-new, 2,562 square foot Starbucks located at 760 E Altamonte Dr, Altamonte Springs, FL 32701. The property boasts a 15.1-year net lease, commencing December 16, 2024, and expiring January 1, 2040. The lease includes four 5-year options with a 10% rent increase every five years. The current Net Operating Income (NOI) is $199,500, resulting in a 4.75% cap rate on the $4,200,000 asking price. This Class A, single-tenant property is part of the Shoppes at Altamonte, a newly developed retail center in a high-traffic area with over 75,000 vehicles passing daily. The location benefits from excellent visibility on SR 436 (Altamonte Drive), proximity to Interstate 4 and US 17-92, and a strong demographic profile, including over 91,000 residents and 82,000 daytime employees within a 3-mile radius, with above-average household incomes exceeding $108,000. The property is situated across from AdventHealth Altamonte Springs hospital and near Altamonte Mall, ensuring high foot traffic and visibility. This is a rare opportunity to acquire a long-term, stable investment with built-in rent growth in a highly desirable Orlando MSA location. The building was constructed in 2024 and features a double drive-thru and patio.

• CAP approach

  CAP return

  Valuation

  6%

  $7,666,872

  6.5%

  $7,077,112

  7%

  $6,571,604

• Comparable approach

  Method

  Valuation

  Relative Method

  $8,619,265

  Geo Method

  $8,619,265

• Alternative Use

  Use

  Valuation

  Residential

  $5,969,810

  Hospitality

  $5,468,313

  Educational

  $4,549,572

  Medical

  $4,706,039

  Retail

  $7,077,112

Location Insight

City

Altamonte Springs

County

Seminole

State

Florida

Latitude

28.6626

Longitude

-81.3635

CBSA code

36740

CBSA name

ORLANDO-KISSIMMEE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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