1920 Aloma AveWinter Park, FL 32792

Property Details for 1920 Aloma Ave

Year built

1995

Lot size

2.11 AC

Property size (Sq ft)

18,475 SF

Zone code

C-1

Property type

Retail properties

Property subtype

Retail space

APN

09-22-30-0120-98-012

APU

92230012098012

Description

This exceptional investment opportunity presents a freestanding Walgreens pharmacy located at 1920 Aloma Ave, Winter Park, FL 32792. The property boasts a 16,740 square foot building situated on a 2.11-acre lot, offering an absolute NNN lease with a corporate guarantee from Walgreens. The current lease has 13 years remaining, with twelve 5-year renewal options, each including a 5% rent increase every five years. The property's strong financial performance is evident in its $7,278,261 asking price, a 5.75% cap rate, and a net operating income (NOI) of $418,500. The price per square foot is $434.78. The Walgreens location is strategically positioned on a hard corner along Aloma Avenue, a high-traffic retail corridor with over 66,000 vehicles passing daily. Its adjacency to Winter Park Corners Shopping Mall, anchored by Sprouts Farmers Market, and its proximity to AdventHealth Winter Park, a 422-bed hospital, further enhances its desirability. The surrounding area boasts strong demographics, with 10,000 residents within a one-mile radius and an average household income of $186,000. Reported store sales (excluding prescription sales) are high, exceeding $8.4 million. This is a rare opportunity to acquire a stable, high-performing retail asset with significant long-term growth potential.

• CAP approach

  CAP return

  Valuation

  6%

  $6,358,785

  6.5%

  $5,869,648

  7%

  $5,450,388

• Comparable approach

  Method

  Valuation

  Relative Method

  $8,118,540

  Geo Method

  $5,197,158

• Alternative Use

  Use

  Valuation

  Residential

  $4,951,268

  Hospitality

  $4,535,334

  Educational

  $3,773,345

  Medical

  $3,903,116

  Retail

  $5,869,648

Location Insight

City

Winter Park

County

Orange

State

Florida

Latitude

28.5998

Longitude

-81.3273

CBSA code

36740

CBSA name

ORLANDO-KISSIMMEE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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