1920 Aloma Ave Winter Park, FL 32792-3207
This exceptional investment opportunity presents a freestanding Walgreens pharmacy located at 1920 Aloma Ave, Winter Park, FL 32792. The property boasts a 16,740 square foot building situated on a 2.11-acre lot, offering an absolute NNN lease with a corporate guarantee from Walgreens. The current lease has 13 years remaining, with twelve 5-year renewal options, each including a 5% rent increase every five years. The property's strong financial performance is evident in its $7,278,261 asking price, a 5.75% cap rate, and a net operating income (NOI) of $418,500. The price per square foot is $434.78. The Walgreens location is strategically positioned on a hard corner along Aloma Avenue, a high-traffic retail corridor with over 66,000 vehicles passing daily. Its adjacency to Winter Park Corners Shopping Mall, anchored by Sprouts Farmers Market, and its proximity to AdventHealth Winter Park, a 422-bed hospital, further enhances its desirability. The surrounding area boasts strong demographics, with 10,000 residents within a one-mile radius and an average household income of $186,000. Reported store sales (excluding prescription sales) are high, exceeding $8.4 million. This is a rare opportunity to acquire a stable, high-performing retail asset with significant long-term growth potential.
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Walgreens Pharmacy Pharmacy
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Walgreens Photo (Bike/Boat/Book/etc) Store
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Randal C. Brenner, RPH Pharmacy
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Johannes J. Botes, Bscpharm Pharmacy
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COVID-19 Drive-Thru Testing at Walgreens Pharmacy
Sec. 58-74. - Commercial (C-1) district. (a) Purpose and intent. (1) Shopping centers have unique development requirements which are dissimilar from other commercial areas; therefore, this section establishes a separate commercial zoning district intended to be used in connection with the city's shopping centers. (2) This district establishes restrictions to…
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
C-1 · Winter Park, FLSec. 58-74. - Commercial (C-1) district. (a) Purpose and intent. (1) Shopping centers have unique development requirements which are dissimilar from other commercial areas; therefore, this section establishes a separate commercial zoning district intended to be used in connection with the city's shopping centers. (2) This district establishes restrictions to insure that shopping centers are designed and located to minimize traffic congestion on public highways and streets in their vicinity and to best fit the general land use pattern of the area to be served by the center. The protective standards contained in this district are intended to minimize any adverse effect of the center on nearby property values and to provide for safe, efficient use of the center itself and safe, adequate and attractive parking areas. (3) Shopping centers are intended to provide areas for a combination of uses, including retail businesses, personal services, banking and professional services and office facilities to serve either a small neighborhood or the entire community. (4) It is the intention of this district to locate shopping centers only at locations that the city commission determines are suitable. Shopping centers are not permitted in the central business district or within the Hannibal Square Neighborhood Commercial District. The city commission may call upon the applicant to furnish additional information establishing compatibility with adjacent uses to justify the rezoning or use of land for a shopping center. (b) Permitted uses. All business uses and activities shall be conducted exclusively and wholly within an enclosed building except those uses permitted which are customarily conducted in the open such as off-street parking, plant and landscape garden sales and outdoor patio dining. Storage shall be limited to accessory storage of commodities sold at retail on the premises and storage shall be within a completely enclosed building. Some minimal display of bulk merchandise for sale within the business may be permitted outside and adjacent to an enclosed building but only if under a permanent covered building canopy but not to include vending machines. (1) Retail business involving the sale of merchandise on the premises within enclosed buildings but excluding resale establishments or pawn shops (other than clothing resale stores), vapor lounges and smoke shops.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
