3340 Canoe Crk RdSt. Cloud, FL 34772

Property Details for 3340 Canoe Crk Rd

Year built

2008

Lot size

1.86 AC

Property size (Sq ft)

14,761 SF

Zone code

SHB

Property type

Retail properties

Property subtype

Drug stores

APN

272630072500010485

APU

272630072500010485

Description

This exceptional investment opportunity presents a 14,761 square foot Walgreens located at 3340 Canoe Creek Rd, St. Cloud, FL 34772, within the Orlando MSA. The property sits on a 1.86-acre lot and boasts a strong 6.50% cap rate, generating a NOI of $349,000. This single-tenant, net-leased property features a corporate-guaranteed lease with Walgreens, the nation's largest drugstore chain. The lease commenced September 1, 2008, and has a remaining term of approximately 8.8 years, with ten 5-year renewal options extending to August 31, 2033. The property enjoys a prime location, situated as an outparcel to a Publix-anchored center at a signalized intersection with over 36,000 vehicles passing daily. The surrounding area demonstrates robust retail activity, including numerous national brands. The average household income within a one-mile radius is $75,501, projected to increase to $87,838 by 2027. This investment offers exceptional long-term stability and growth potential, backed by a financially strong tenant and a desirable location in a thriving retail corridor. The asking price is $5,369,230. The property was built in 2008 and currently enjoys 100% occupancy.

• CAP approach

  CAP return

  Valuation

  6%

  $6,341,762

  6.5%

  $5,853,934

  7%

  $5,435,796

• Comparable approach

  Method

  Valuation

  Relative Method

  $7,625,643

  Geo Method

  $5,841,158

• Alternative Use

  Use

  Valuation

  Residential

  $4,938,013

  Hospitality

  $4,523,193

  Educational

  $3,763,244

  Medical

  $3,892,667

  Retail

  $5,853,934

Location Insight

City

Saint Cloud

County

Osceola

State

Florida

Latitude

28.1973

Longitude

-81.2935

CBSA code

36740

CBSA name

ORLANDO-KISSIMMEE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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