515 Park Ave Apopka, FL 32712-3634

Property Details for 515 Park Ave

Year built

2008

Lot size

1.90 lot acres

Property size

22,000 SF

Zone code

C-C

Property type

Retail space

APN

03-21-28-4682-00-012

APU

32128468200012

Description

This exceptional mixed-use property, Foster's Corner, presents a compelling investment opportunity in the thriving Apopka market within the Orlando MSA. The 22,000 square foot building, constructed in 2008, sits on a generous 1.9-acre lot at 515 N Park Ave, 32712. Currently boasting 100% occupancy with eleven tenants, this Class A property offers a diverse mix of medical, retail, and service-oriented businesses, ensuring a stable income stream. The property features a Net Lease (NNN) structure with multiple lease options available. The current asking price is $4,290,000, translating to $195 per square foot, significantly below replacement cost. The property's strong tenant mix, including national and local businesses, contributes to a robust 7.08% capitalization rate (pro-forma). Significant upside potential exists due to below-market rents compared to current market averages, and built-in lease escalations. The prime location on N Park Ave, across from schools and surrounded by major retailers like Walmart, Publix, Lowe's, and Wendy's, guarantees high visibility and consistent traffic. This fee-simple ownership opportunity offers a value-add potential in a rapidly growing area, making it an attractive investment for long-term growth within the Greater Orlando area. The two-story building offers 22,000 square feet of net rentable space.

Location Insight

City

Apopka

County

Orange

State

Florida

Longitude

-81.5084

Latitude

28.6886

CBSA code

36740

CBSA name

ORLANDO-KISSIMMEE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments