Multi-Tenant Shopping
767 S State Rd 434, Altamonte Springs, FL 32714
For Sale
$3,009,500
The fully leased retail property sits along a state road with nearby college, healthcare, and grocery destinations.
Property Size6,543 SF
Price / SF$459.96
Days on Market48
Property Features for 767 S State Rd 434
General Information
Standard status
Size
Property subtype
Occupancy
Additional Details
Cap Rate
Traffic Count
Amenities
Stable In-Place Income With Continued Growth: Offered at a 6.00% Year 1 cap rate, with a projected 6.08% Year 2 cap rate, providing stable in-place income with continued rental growth potential.
Rental Growth Potential: Current net rents average approximately $27.60 PSF, below surrounding market asking rents of $31.18 PSF, providing the opportunity to increase rents closer to market.
100% Occupied In A Tight Retail Submarket: The property is fully occupied, while the surrounding retail submarket maintains a low 3.5% vacancy rate, supporting strong tenant demand.
Prime Altamonte Springs Location Along SR 434: Positioned along State Road 434 with approximately 44,500 vehicles per day, Braxtyn Crossings benefits from strong visibility and access within an established retail corridor.
Expense Recovery Upside Through NNN Conversion: One tenant currently operating under a gross lease, creating the opportunity to transition the tenant to an NNN structure and increase expense recoveries.
Surrounded By Major Demand Generators: Located near Seminole State College's Altamonte Springs Campus, AdventHealth's corporate headquarters, Maitland Center, and the Publix-anchored Gateway Crossings, supporting consistent daytime and consumer traffic.
Affluent Surrounding Communities: Approximately 256,700 residents within five miles and an average household income of approximately $90,300 within three miles, with continued residential development further expanding the surrounding consumer base.
NNN Lease Structure: Majority of tenants operate under NNN leases, providing expense reimbursements and reducing the landlord's exposure to property-level operating costs.
Building Details
Building Size
Year Built
Tenancy
Listing Agency:
Marcus & Millichap - Orlando
Listed By:
Tarek Chbeir
(407) 557-3834
Source:
Marcusmillichap
Added: Sep 26
Changed: Nov 4
Last Checked: Nov 10 at 5:10AM
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 Marcus & Millichap - Orlando
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Investment Insights
Based on property information with market context.
This 6,543-square-foot shopping center in Altamonte Springs was built in 2006 and contains multiple retail tenants. The property is reported as fully occupied, providing an established retail configuration at 767 S State Rd 434.
State Road 434 carries approximately 44,500 vehicles per day. Nearby destinations include Seminole State College’s Altamonte Springs Campus, AdventHealth’s corporate headquarters, Maitland Center, and the Publix-anchored Gateway Crossings. The surrounding area has approximately 256,700 residents within five miles.
State Road 434 carries approximately 44,500 vehicles per day. Nearby destinations include Seminole State College’s Altamonte Springs Campus, AdventHealth’s corporate headquarters, Maitland Center, and the Publix-anchored Gateway Crossings. The surrounding area has approximately 256,700 residents within five miles.
Key Highlights
- 6,543‑square‑foot multi‑tenant retail center
- 100% occupied
- Built in 2006
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$128,484
Cap Rate
4.27%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,569,680
$2.6M
Cap Rate 7%
$1,835,486
$1.8M
Cap Rate 9%
$1,427,600
$1.4M
Market Conditions
NOI Build-Up for 6,543 SF
Gross rent
$190.0K $29.04/SF
− Vacancy
−$6.5K −$0.99/SF
EGI
$183.5K $28.05/SF
− OpEx
−$55.1K −$8.42/SF
NOI
$128.5K $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 Rate 5%
$2,569,680
Cap Rate 7%
$1,835,486
Cap Rate 9%
$1,427,600
Alternative Uses
Best Use
Retail
$1.84M
$1.61M – $2.14M
NOI $128,484 @ 7.0% cap · market cap 4.27%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.96M
$1.72M – $2.29M
NOI $137,377 @ 7.0% cap · market cap 4.56%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
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Current Use
Lease Details
44,500 VPD
Traffic count
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
776
Businesses Nearby
180k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 27%
Apparel 22%
Dining 22%
Shops & Services 21%
Publix
Groceries
38,416 visits/mo
0.4 miles
Marshalls
Apparel
38,068 visits/mo
0.3 miles
7-Eleven
Shops & Services
14,783 visits/mo
0.0 miles
Metro Diner
Dining
13,230 visits/mo
0.3 miles
Chase Bank
Shops & Services
11,595 visits/mo
0.2 miles
Demographics for 32714, FL
38,049
Population
16,722
Households
2.3
Avg Household Size
37
Median Age
37%
College-Educated
92%
High-School Grad
8.5 sq mi
ZIP Area
4,476
Density / Sq Mi
$67,333
Median Household Income
$39,714
Median Earnings
$1,641
Median Rent
$292,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Shopping center - The fully leased retail property sits along a state road with nearby college, healthcare, and grocery destinations.
Where is this shopping center located?
The property is located at 767 S State Rd 434 Altamonte Springs, FL.
What is the asking price?
The asking price for this property is $3,009,500.
What are key features of this property?
This property features: 6,543‑square‑foot multi‑tenant retail center; 100% occupied; Built in 2006
