Winter Garden NNN Investment
For Sale
Contact for pricing
15710 West Colonial Drive, Winter Garden, FL 34787
New 20-year NNN lease with annual escalations.
Property Size9,450 SF
Lot Size1.64 Acres
Price / SF$594.76
Days on Market100
Property Features for 15710 West Colonial Drive
General Information
Standard status
Active
Size
9,450 SF
Total Parking Spaces
54
Lot size
1.64 Acres
Property subtype
Retail
Occupancy
100%
Lease Type
Absolute Net
Net Operating Income
$385,000
Building Details
Year Built
2024
Units
54
Tenancy
Single
Listing Agency:
CBRE - Orlando
(631) 903-7137
Listed By:
Andrew Jaworski · License #Sl3405473
Source:
Crexi
Added: May 21
Changed: Aug 26
Last Checked: Aug 26 at 4:14PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of CBRE - Orlando
Investment Insights
Based on property information with market context.
This property features a brand new 20-year absolute NNN sale-leaseback with Goldfish Swim School. The 9,450± SF state-of-the-art swimming facility is located in the City of Winter Garden, part of the Orlando metropolitan area, servicing the rapidly growing western part of the Central Florida market. Situated on a 1.64± acre parcel, the new 20-year absolute NNN lease commences upon COE and features 1.75% annual escalations throughout the term, providing hands-off ownership with no landlord obligations.
Key Highlights
- Brand new 20‑year absolute NNN lease with Goldfish Swim School.
- Enjoy 1.75% annual escalations throughout the 20‑year lease term.
- Truly hands‑off ownership with no landlord obligations.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$185,568
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.30%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,711,360
$3.7M
Cap Rate 7%
$2,650,971
$2.7M
Cap Rate 9%
$2,061,867
$2.1M
Market Conditions
NOI Build-Up for 9,450 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$274.4K $29.04/SF
− Vacancy
−$9.3K −$0.99/SF
EGI
$265.1K $28.05/SF
− OpEx
−$79.5K −$8.42/SF
NOI
$185.6K $19.64/SF
Area
Orange County, FL
Vacancy
3.40%
Lease Rate
$29.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,711,360
Cap Rate 7%
$2,650,971
Cap Rate 9%
$2,061,867
Alternative Uses
Best Use
Retail
$2.65M
$2.32M – $3.09M
NOI $185,568 @ 7.0% cap · market cap 3.30%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.69M
$2.35M – $3.14M
NOI $188,244 @ 7.0% cap · market cap 3.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
363
Businesses Nearby
16k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Home Improvements & Furnishings 78%
Dining 22%
Tractor Supply Co.
Home Improvements & Furnishings
12,838 visits/mo
0.4 miles
Foxtail Coffee
Dining
2,644 visits/mo
0.1 miles
Domino's Pizza
Dining
989 visits/mo
0.1 miles
Demographics for 34787, FL
88,636
Population
33,141
Households
2.7
Avg Household Size
36
Median Age
49%
College-Educated
94%
High-School Grad
67.3 sq mi
ZIP Area
1,317
Density / Sq Mi
$114,988
Median Household Income
$53,995
Median Earnings
$1,994
Median Rent
$475,000
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - New 20-year NNN lease with annual escalations.
Where is this retail space located?
The property is located at 15710 West Colonial Drive Winter Garden, FL.
What is the asking price?
The asking price for this property is $5,620,438.
What are key features of this property?
This property features: Brand new 20‑year absolute NNN lease with Goldfish Swim School.; Enjoy 1.75% annual escalations throughout the 20‑year lease term.; Truly hands‑off ownership with no landlord obligations.
