Freestanding Drive-Thru Restaurant
For Sale
$2,750,000
8841 Commodity Circle ORLANDO, Orlando, FL 32819
Fully equipped freestanding restaurant with drive-thru, previously a Whataburger franchise, offered on an absolute NNN basis.
Property Size3,031 SF
Lot Size1.38 Acres
Price / SF$678.18
Days on Market48
Property Features for 8841 Commodity Circle ORLANDO
General Information
Standard status
Active
Size
3,031 SF
Lot size
1.38 Acres
Zoning
IND-2/IND-
Lease Type
NNN
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Furnished
Yes
Taxes and HOA fees
Annual Taxes
$25,754
Amenities
1
true
1.3658
1.37
false
Asphalt
Block
City Street
3031
Building Details
Building Size
3,031 SF
Year Built
2005
Buildings
1
Stories
1
Listing Agency:
THE REAL ESTATE COLLECTION LLC
(407) 656-7814
Listed By:
Elizabeth "Suzette" Ray · License #3121297
(407) 656-7814
Source:
Therealestatecollection
Added: Jul 5
Changed: Aug 12
Last Checked: Aug 12 at 8:59AM
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 THE REAL ESTATE COLLECTION LLC
Investment Insights
Based on property information with market context.
Freestanding fully equipped restaurant building with a drive-thru, previously operating as a Whataburger franchise. The property is presented as a second-generation restaurant option and includes furniture, fixtures, and equipment. A full set of FF&E is listed separately at $55,000, and the property is also available with FF&E included for a turn-key setup.
The building fronts John Young Parkway and has access from Commodity Circle, with a huge monument sign for visibility. The site is approximately 1.38 acres (+/−). It is offered for sale and separately for lease under an absolute NNN structure, with lease terms stated as $38.00/PSF.
The building fronts John Young Parkway and has access from Commodity Circle, with a huge monument sign for visibility. The site is approximately 1.38 acres (+/−). It is offered for sale and separately for lease under an absolute NNN structure, with lease terms stated as $38.00/PSF.
Key Highlights
- Freestanding, fully equipped restaurant building with drive‑thru; former Whataburger franchise
- Approx. 3,031 total building area on 1.37 acres (1.3658 acres), with 1 building and 1 story
- Built in 2005 with air conditioning and block foundation; located on John Young Parkway frontage
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
$85,315
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
3.10%
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%
$1,706,300
$1.7M
Cap Rate 7%
$1,218,786
$1.2M
Cap Rate 9%
$947,944
$947.9K
Market Conditions
NOI Build-Up for 4,055 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
$117.8K $29.04/SF
− Vacancy
−$4.0K −$0.99/SF
EGI
$113.8K $28.05/SF
− OpEx
−$28.4K −$7.01/SF
NOI
$85.3K $21.04/SF
Area
Orlando, FL
Vacancy
3.40%
Lease Rate
$29.04 /SF/Yr
Expense Ratio
25.00%
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%
$1,706,300
Cap Rate 7%
$1,218,786
Cap Rate 9%
$947,944
Alternative Uses
Best Use
Specialty Retail
$1.22M
$1.07M – $1.42M
NOI $85,315 @ 7.0% cap · market cap 3.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.31M
$1.14M – $1.52M
NOI $91,438 @ 7.0% cap · market cap 3.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,324
Businesses Nearby
267k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 46%
Shops & Services 31%
Dining 19%
Hotels & Casinos 3%
Walmart
Superstores
123,683 visits/mo
0.4 miles
RaceTrac
Shops & Services
24,108 visits/mo
0.4 miles
McDonald's
Dining
18,940 visits/mo
0.3 miles
Starbucks
Dining
16,160 visits/mo
0.5 miles
PetSmart
Shops & Services
12,691 visits/mo
0.3 miles
Demographics for 32819, FL
30,857
Population
14,689
Households
2.1
Avg Household Size
40
Median Age
51%
College-Educated
92%
High-School Grad
20.7 sq mi
ZIP Area
1,491
Density / Sq Mi
$94,386
Median Household Income
$47,166
Median Earnings
$1,947
Median Rent
$454,000
Median Home Value
Market
Vacancy Rate% for Retail in Orlando, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Drive through restaurant - Fully equipped freestanding restaurant with drive-thru, previously a Whataburger franchise, offered on an absolute NNN basis.
Where is this drive through restaurant located?
The property is located at 8841 Commodity Circle ORLANDO Orlando, FL.
What is the asking price?
The asking price for this property is $2,750,000.
What are key features of this property?
This property features: Freestanding, fully equipped restaurant building with drive‑thru; former Whataburger franchise; Approx. 3,031 total building area on 1.37 acres (1.3658 acres), with 1 building and 1 story; Built in 2005 with air conditioning and block foundation; located on John Young Parkway frontage
