4510 92 Casselberry, FL 32707
- Retail properties
- 2.70 lot acres
Current Use by Public Records
- Retail properties
Property Details for 4510 92
- Year built
- 1994
- Lot size
- 2.70 lot acres
- Property type
- Retail properties
- Property subtype
- Retail space
Description
This exceptional investment opportunity presents a fee-simple ownership of a 25,464-square-foot PetSmart storefront in Casselberry, Florida. Located on US Hwy 17-92, a high-traffic thoroughfare averaging 66,000 vehicles per day, this property benefits from strong tenant synergy within a larger development including Target, Taco Bell, and Steak 'n Shake. The single-tenant, absolute NNN lease with a credit-rated PetSmart boasts a remaining term of 7.8 years, with four 5-year lease options and 7.5% rent increases every five years. The property features a 6.00% cap rate and a substantial NOI of $318,971. Built in 1994 and renovated in 1995, this one-story building sits on a 2.7-acre lot. The lease commenced August 1, 1994, and expires August 31, 2032. The property's location within a dense demographic area, boasting over 241,000 residents and 128,000 employees within a 5-mile radius, and an average household income of $101,254, ensures consistent performance. The Casselberry area exhibits robust growth, with a 1.58% annual population increase and a 6.63% increase since the last census. This investment offers a secure, long-term, high-yield return with a nationally recognized tenant in a prime retail location. The asking price is $5,316,000.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Casselberry
- County
- Seminole
- State
- Florida
- Longitude
- -81.3407
- Latitude
- 28.6707
