Property Details for 16775 State Rte

Year built

2023

Lot size

9.81 lot acres

Property size

61,000 SF

Property type

Retail properties & Spaces

Property subtype

Auto shops

Description

This exceptional 61,000 square foot retail property, built in 2023, houses a Tesla Sales, Service, and Delivery Center. Situated on a 9.813-acre lot in Clermont, Florida, this single-tenant building boasts a prominent "auto row" location near other major dealerships, maximizing visibility and accessibility. The property features 589 parking spaces and benefits from a high-traffic location on State Route 50 (59,000+ vehicles per day) near the Florida Turnpike (102,500 AADT). The strong demographics of the area, with a population of 107,221 within a 5-mile radius and an average household income of $123,490 within 10 miles, contribute to its exceptional investment potential. The location is strategically positioned near major retailers such as Publix, Target, and Home Depot, as well as significant employers like Orlando Health South Lake Hospital and Lake-Sumter State College. This property offers a rare long-term lease structure with scheduled rent increases, providing a stable and secure investment opportunity. The 5.75% cap rate further enhances its attractiveness. Its proximity to the rapidly growing Orlando market, less than 20 miles from downtown, makes this a truly exceptional investment. The property benefits from excellent access to major arterials, including the Florida Turnpike and the 429 Expressway, ensuring convenient access for customers and employees.

Location Insight

City

Clermont

County

Lake

State

Florida

Longitude

-81.6768

Latitude

28.5478