718 Altamonte Dr Altamonte Springs, FL 32701
- Retail properties
- 16,014 SF
- 4.59 lot acres
Current Use by Public Records
- Retail properties
Property Details for 718 Altamonte Dr
- Year built
- 2024
- Lot size
- 4.59 lot acres
- Property size
- 16,014 SF
- Property type
- Retail properties
- Property subtype
- Restaurants
Description
This exceptional investment opportunity presents a portfolio of five Class A retail properties totaling 16,014 square feet, situated on a 4.59-acre lot in Altamonte Springs, Florida. The portfolio features a diverse lineup of nationally recognized tenants including Starbucks, Chick-fil-A, Chipotle, Panera Bread, and Raising Cane's, all operating under absolute NNN leases with corporate guarantees and credit ratings. The properties boast a strong Net Operating Income (NOI) of $1,001,763, yielding a 4.46% cap rate at an asking price of $22,436,479. Built in 2024, these single-story buildings are strategically located on East Altamonte Drive (State Road 436), a high-traffic corridor with over 75,000 vehicles passing daily. The location benefits from excellent visibility and accessibility, with multiple access points and proximity to major roadways like Interstate 4 and US 17-92. The portfolio is further enhanced by its location near a significant concentration of residents and employees, boasting above-average household incomes within a 3-mile radius. Four of the five tenants have initial lease terms ranging from 15 to 18 years, with fixed rental rate increases of 9% to 10% every five years, ensuring long-term passive income and strong appreciation potential. The occupancy date is December 16, 2024. This is a fee simple ownership opportunity.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Altamonte Springs
- County
- Seminole
- State
- Florida
- Longitude
- -81.3649
- Latitude
- 28.6631
