Retail Store on
For Sale
Contact for pricing
550 West 1st Street Sanford, Sanford, FL 32771
Single-tenant retail property available for sale, operated under a 10-year double-net lease with remaining term.
Property Size14,250 SF
Lot Size1.26 Acres
Price / SF$294.99
Days on Market171
Property Features for 550 West 1st Street Sanford
General Information
Standard status
Active
Size
14,250 SF
Lot size
1.26 Acres
Property subtype
Retail
Zoning
Commercial
Occupancy
100%
Lease Type
NN
Investment Type
Net Lease
Net Operating Income
$254,322
Building Details
Year Built
2023
Year Renovated
2023
Tenancy
Single
Listing Agency:
CBRE - Orlando
(407) 839-3123
Listed By:
Alexander Doolin · License #NY #10401333620
Source:
Crexi
Added: Feb 25
Changed: Aug 10
Last Checked: Aug 13 at 11:39AM
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.
CBRE presents the exclusive sale offering for a Dollar Tree retail store located at 550 West 1st Street in Sanford, Florida. The property includes 14,129 square feet of building space and is situated on 1.26 acres.
The site is subject to a 10-year double-net (NN) lease with roughly 7.4 years remaining. The lease includes a base rent of $254,322 starting in year one, with a 6.00% rental escalation in year six. The lease also provides for two (2) five-year renewal option periods, for up to a 20-year total term.
The property is positioned on an out-parcel to the Downtown Sanford commercial corridor and is described as being within a strong retail corridor surrounded by national and local tenants, shopping centers, and hospitality accommodations.
The site is subject to a 10-year double-net (NN) lease with roughly 7.4 years remaining. The lease includes a base rent of $254,322 starting in year one, with a 6.00% rental escalation in year six. The lease also provides for two (2) five-year renewal option periods, for up to a 20-year total term.
The property is positioned on an out-parcel to the Downtown Sanford commercial corridor and is described as being within a strong retail corridor surrounded by national and local tenants, shopping centers, and hospitality accommodations.
Key Highlights
- Dollar Tree at 550 W. 1st St, Sanford, FL—single‑tenant retail property built in 2023
- 14,129 SF building on 1.26 acres
- 10‑year double‑net (NN) lease with approximately 7.4 years remaining
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
$279,825
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
6.66%
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%
$5,596,500
$5.6M
Cap Rate 7%
$3,997,500
$4.0M
Cap Rate 9%
$3,109,167
$3.1M
Market Conditions
NOI Build-Up for 14,250 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
$413.8K $29.04/SF
− Vacancy
−$14.1K −$0.99/SF
EGI
$399.8K $28.05/SF
− OpEx
−$119.9K −$8.42/SF
NOI
$279.8K $19.64/SF
Area
Seminole 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%
$5,596,500
Cap Rate 7%
$3,997,500
Cap Rate 9%
$3,109,167
Alternative Uses
Best Use
Retail
$4.00M
$3.50M – $4.66M
NOI $279,825 @ 7.0% cap · market cap 6.66%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.06M
$3.55M – $4.73M
NOI $283,860 @ 7.0% cap · market cap 6.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,471
Businesses Nearby
Explore this area
Business Placement
Demographics for 32771, FL
57,178
Population
24,062
Households
2.4
Avg Household Size
37
Median Age
35%
College-Educated
91%
High-School Grad
37.5 sq mi
ZIP Area
1,525
Density / Sq Mi
$74,520
Median Household Income
$43,321
Median Earnings
$1,584
Median Rent
$332,500
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 - Single-tenant retail property available for sale, operated under a 10-year double-net lease with remaining term.
Where is this retail space located?
The property is located at 550 West 1st Street Sanford Sanford, FL.
What is the asking price?
The asking price for this property is $4,203,669.
What are key features of this property?
This property features: Dollar Tree at 550 W. 1st St, Sanford, FL—single‑tenant retail property built in 2023; 14,129 SF building on 1.26 acres; 10‑year double‑net (NN) lease with approximately 7.4 years remaining
