780 Altamonte Dr Altamonte Springs, FL 32701
- Commercial real estate
- 3,224 SF
Current Use by Public Records
- Commercial real estate
Property Details for 780 Altamonte Dr
- Year built
- 2024
- Property size
- 3,224 SF
- Property type
- Commercial real estate
Description
This exceptional investment opportunity presents a fee-simple ownership of a newly constructed, 3,224 square foot Raising Cane's restaurant in Altamonte Springs, Florida. Located within the Shoppes at Altamonte, a premier retail center, this Class A property boasts a 15.1-year absolute NNN lease commencing December 16, 2024, and expiring January 1, 2040. The lease includes a corporate guarantee from Raising Cane's, a highly successful fast-food chain projected to exceed $4.5 billion in system-wide sales and achieve a $6 million average unit volume (AUV) in 2024. The property features a modern design, including a double drive-thru and patio, and benefits from a high-traffic location on State Road 436, with over 75,000 vehicles passing daily. Situated near Interstate 4 and US 17-92, this location enjoys excellent visibility and accessibility within a densely populated area with above-average household incomes. The lease provides for fixed 10% rent increases every five years, ensuring consistent income growth. With a current net operating income (NOI) of $200,000 and a 4.00% cap rate, this investment offers a compelling return on investment. The property is part of a larger development anchored by other highly sought-after national retail tenants, further enhancing its value and long-term stability. The asking price is $5,000,000. This is a rare opportunity to acquire a strong-performing, passively managed asset in a thriving market.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Altamonte Springs
- County
- Seminole
- State
- Florida
- Longitude
- -81.363213575858
- Latitude
- 28.663058344781
