Walgreens Drug
New
For Sale
Contact for pricing
7403 Aloma Avenue, Winter Park, FL 32792
The property is leased to Walgreens under a triple-net structure with scheduled rent increases.
Property Size15,120 SF
Lot Size2.01 Acres
Price / SF$400
Days on Market5
Property Features for 7403 Aloma Avenue
General Information
Standard status
Active
Size
15,120 SF
Lot size
2.01 Acres
Property subtype
Retail
Building Details
Tenancy
Single
Listing Agency:
SURMOUNT
Listed By:
Glen Kunofsky · License #NY 49KU1129178
(332) 345-4222
Source:
Crexi
Added: Sep 23
Changed: Sep 26
Last Checked: Sep 26 at 2:44PM
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 SURMOUNT
Investment Insights
Based on property information with market context.
This drug store property includes 15,120 rentable square feet on an approximately 2.01-acre parcel. Walgreens occupies the building under a triple-net lease that began on February 22, 2024, with a stated term of 15.03 years.
The lease provides for rent increases of 5.00% every five years. The property is located at 7403 Aloma Avenue in Winter Park, Florida.
The lease provides for rent increases of 5.00% every five years. The property is located at 7403 Aloma Avenue in Winter Park, Florida.
Key Highlights
- 15,120 rentable square feet on an estimated 2.01‑acre parcel
- Leased to Walgreens under a 15.03‑year NNN lease
- Lease commenced 2/22/2024
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
$296,909
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
4.91%
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%
$5,938,180
$5.9M
Cap Rate 7%
$4,241,557
$4.2M
Cap Rate 9%
$3,298,989
$3.3M
Market Conditions
NOI Build-Up for 15,120 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
$439.1K $29.04/SF
− Vacancy
−$14.9K −$0.99/SF
EGI
$424.2K $28.05/SF
− OpEx
−$127.2K −$8.42/SF
NOI
$296.9K $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%
$5,938,180
Cap Rate 7%
$4,241,557
Cap Rate 9%
$3,298,989
Alternative Uses
Best Use
Retail
$4.24M
$3.71M – $4.95M
NOI $296,909 @ 7.0% cap · market cap 4.91%
Second Best
Specialty Retail
$4.17M
$3.65M – $4.86M
NOI $291,603 @ 7.0% cap · market cap 4.82%
Theoretical Best
Office A
$4.30M
$3.76M – $5.02M
NOI $301,190 @ 7.0% cap · market cap 4.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
983
Businesses Nearby
17k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Bank of America
Shops & Services
6,114 visits/mo
0.3 miles
Chevron
Shops & Services
3,172 visits/mo
0.3 miles
AutoZone
Shops & Services
3,056 visits/mo
0.2 miles
O'Reilly Auto Parts
Shops & Services
2,876 visits/mo
0.1 miles
US Storage Centers
Shops & Services
1,182 visits/mo
0.4 miles
Demographics for 32792, FL
51,376
Population
24,169
Households
2.1
Avg Household Size
36
Median Age
42%
College-Educated
91%
High-School Grad
12.1 sq mi
ZIP Area
4,246
Density / Sq Mi
$66,176
Median Household Income
$39,326
Median Earnings
$1,612
Median Rent
$343,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Drug store - The property is leased to Walgreens under a triple-net structure with scheduled rent increases.
Where is this drug store located?
The property is located at 7403 Aloma Avenue Winter Park, FL.
What is the asking price?
The asking price for this property is $6,048,000.
What are key features of this property?
This property features: 15,120 rentable square feet on an estimated 2.01‑acre parcel; Leased to Walgreens under a 15.03‑year NNN lease; Lease commenced 2/22/2024
