955 Winter Park Dr, Unit 1001 Casselberry, FL 32707-5437

Property Details for 955 Winter Park Dr

Year built

1999

Construction

CONCRETE BLOCKS

Lot size

1.75 lot acres

Property size

14,135 SF

Property type

Retail space

APN

21-21-30-528-0000-0010

APU

21213052800000010

Description

This exceptional investment opportunity presents a fee-simple ownership of a Walgreens retail property located at 955 S Winter Park Dr, Casselberry, FL 32707, within the Orlando MSA. The 13,855 square foot building sits on a 1.84-acre lot and is currently operating under a corporate-guaranteed, absolute NNN lease with Walgreens (NASDAQ: WBA). The lease commenced November 21, 2023, and has a remaining term of approximately 14 years, expiring November 30, 2038. The lease includes twelve, 5-year options with a 5% rent increase every five years, providing significant long-term income growth. The property boasts a 6.00% cap rate and a net operating income (NOI) of $318,665, with an asking price of $5,311,083 ($383.33 per square foot). The property benefits from a highly visible location at a signalized intersection experiencing over 100,000 combined vehicles per day. Additional features include a drive-thru pharmacy and the advantage of being located in a no-income-tax state. This is a rare opportunity to acquire a stable, high-performing asset with built-in rent escalations and minimal landlord responsibilities. The absolute NNN lease structure further minimizes management burdens, making this an ideal investment for passive income seekers. The property's strong tenant, long lease term, and favorable location combine to create a compelling investment proposition.

Location Insight

City

Casselberry

County

Seminole

State

Florida

Longitude

-81.323

Latitude

28.648

CBSA code

36740

CBSA name

ORLANDO-KISSIMMEE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments