301 Ryder Ln Casselberry, FL 32707-3809

This exceptional 2,400-square-foot flex space in Casselberry, Florida, presents a compelling investment or owner-user opportunity. Currently housing a state-of-the-art ghost kitchen, the property boasts a strong net lease with a credit-rated tenant and a personal guarantee, ensuring consistent income. The current lease, commencing October 31, 2021, and expiring November 30, 2026, offers a remaining term of approximately two years, with three optional three-year renewal periods. The property features a 7.15% cap rate (projected to increase to 7.33% by December 2024), a significant return on investment. The building, constructed in 2006, is a single-story Class B structure with two units, two loading docks, and 20-foot ceilings. The property includes five parking spaces and is equipped with 3-phase 200-amp power, plus an additional 60-amp sub-panel. Its strategic location near SR 436, I-4, and US Hwy 17-92 provides excellent accessibility. The interior features two ADA-compliant restrooms and two office spaces, ideal for order processing. The kitchen itself is equipped with a Captive Aire Exhaust Hood and Grease Fire Suppression System, a gas water heater, an enhanced grease trap system, and industrial chemical and water-resistant flooring. The drive-in garages offer versatile storage solutions, including EV charging capabilities. The property is zoned I and offers a compelling investment opportunity with strong potential for future growth. The asking price is $570,000, translating to $237.50 per square foot. Annual Net Operating Income (NOI) is $40,742. Rent bumps are set at 2%. The tenant has the option to vacate with 30 days' notice.