60 5th St Apopka, FL 32703-5245

Property Details for 60 5th St

Year built

1963

Lot size

0.71 lot acres

Property size

22,717 SF

Zone code

MU-D

Property type

Retail space

APN

09-21-28-0196-50-790

APU

92128019650790

Description

This exceptional retail investment opportunity presents a 22,717 square foot shopping center and storefront located at 40-60 E 5th St, Apopka, Florida 32703, in Orange County. Built in 1963, this single-story building sits on a 0.71-acre lot and boasts a compelling 7.16% cap rate with a Net Operating Income (NOI) of $128,844. The asking price is $1,800,000, translating to $79.24 per square foot. The property is zoned MU-D and benefits from its prime location on the hard corner of 5th Street and Park Avenue, directly behind Apopka City Hall. Currently, a significant portion of the space (7,370 square feet) is vacant, presenting a substantial value-add opportunity for an owner-user to occupy the space while maintaining income from existing tenants. The majority of existing tenants have leases with one to two years remaining, providing a further opportunity to increase rental income upon lease expiration. The property is situated within the Apopka Community Redevelopment Area (CRA), offering financial incentives for both tenants and property owners. Free public parking is conveniently located across the street. Seller financing is available. This property offers a unique blend of immediate income generation and significant potential for future growth.