Leased Multi-Tenant Retail NNN
For Sale
Contact for pricing
446 Rinehart Rd, Lake Mary, FL 32746
Newly constructed retail center is 100% leased to three tenants under newer 10-year NNN leases with 3% annual increases.
Property Size7,224 SF
Lot Size1.60 Acres
Price / SF$622.92
Days on Market164
Property Features for 446 Rinehart Rd
General Information
Standard status
Active
Size
7,224 SF
Class
A
Lot size
1.60 Acres
Property subtype
RETAIL
Occupancy
100%
Building Details
Tenancy
Multi
Listing Agency:
Lee & Associates | North San Diego County
(760) 519-0240
Listed By:
Ryan Bennett · License #01826517
(760) 519-0240
Source:
Moodyscre
Added: Feb 18
Changed: Jul 26
Last Checked: Jul 26 at 8:35PM
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 Lee & Associates | North San Diego County
Investment Insights
Based on property information with market context.
Lee & Associates presents a newly constructed, 100% leased multi-tenant retail asset within the Orlando MSA. Bent’s Landing Retail Center includes 7,224 square feet of Class A retail storefront space and is fully occupied by UrgentVet, 100% Chiropractic, and BodyRok. Each tenant operates under newer 10-year NNN leases with 3% annual increases, designed to support long-term, stable income.
The property is located at 446 Rinehart Rd in Lake Mary, Florida, and sits on 1.6 acres. The retail center also benefits from cross-parking agreements within a larger development, supporting convenient customer access and circulation.
The center is configured as a multi-tenant storefront retail property and is offered for sale as a fully leased investment.
The property is located at 446 Rinehart Rd in Lake Mary, Florida, and sits on 1.6 acres. The retail center also benefits from cross-parking agreements within a larger development, supporting convenient customer access and circulation.
The center is configured as a multi-tenant storefront retail property and is offered for sale as a fully leased investment.
Key Highlights
- 100% leased, newly constructed multi‑tenant retail asset in Lake Mary, FL (Orlando MSA)
- 7,224 SF Class A retail storefront space fully occupied by three tenants: UrgentVet, 100% Chiropractic, and BodyRok
- Tenants operate under newer 10‑year NNN leases with 3% annual increases
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $209.8k | $29.04 |
| − Vacancy | −$7.1k | −$0.99 |
| EGI | $202.7k | $28.05 |
| − OpEx | −$60.8k | −$8.42 |
| NOI | $141.9k | $19.64 |
7,224 SF · lease $29.04/SF/yr · vacancy 3.40% · expense 30.00%
Alternative Uses
Best Use
Retail
$2.03M
$1.77M – $2.36M
NOI $141,857 @ 7.0% cap · market cap 3.15%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.06M
$1.80M – $2.40M
NOI $143,902 @ 7.0% cap · market cap 3.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,811
Businesses Nearby
Explore this area
Business Placement
Demographics for 32746, FL
45,828
Population
20,204
Households
2.3
Avg Household Size
42
Median Age
53%
College-Educated
97%
High-School Grad
21.1 sq mi
ZIP Area
2,172
Density / Sq Mi
$111,534
Median Household Income
$55,860
Median Earnings
$1,912
Median Rent
$420,200
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Newly constructed retail center is 100% leased to three tenants under newer 10-year NNN leases with 3% annual increases.
Where is this retail space located?
The property is located at 446 Rinehart Rd Lake Mary, FL.
What is the asking price?
The asking price for this property is $4,500,000.
What are key features of this property?
This property features: 100% leased, newly constructed multi‑tenant retail asset in Lake Mary, FL (Orlando MSA); 7,224 SF Class A retail storefront space fully occupied by three tenants: UrgentVet, 100% Chiropractic, and BodyRok; Tenants operate under newer 10‑year NNN leases with 3% annual increases
