6601 Old Cheney Hwy Orlando, FL 32807-5286

Property Details for 6601 Old Cheney Hwy

Year built

1988

Lot size

0.55 lot acres

Property size

7,840 SF

Zone code

C-3

Property type

Auto shops

APN

22-22-30-0000-00-156

APU

222230000000156

Description

This exceptional investment opportunity presents a fee-simple ownership of a 6,670 square foot MAACO auto repair shop in Orlando, Florida. Located at 6601 Old Cheney Hwy, 32807, this property boasts a 100% occupancy rate under a 15-year absolute NNN lease with MAACO, America's #1 auto paint and collision service provider, a subsidiary of Driven Brands (NASDAQ: DRVN). The lease commenced October 1, 2021, and has approximately 11.9 years remaining, with three 5-year renewal options. The lease includes attractive 1.5% annual rent increases, providing inflation protection. The property generates a substantial net operating income (NOI) of $100,000, resulting in a compelling 6.75% cap rate. Situated on a 0.55-acre lot, the building was constructed in 1998 and benefits from its strategic location in an automotive-dominated corridor with high traffic counts (53,000 AADT on E Colonial Drive). The property enjoys excellent visibility and proximity to numerous national retailers, including Avis, Dollar General, Race Trac, CVS, McDonald's, Sam's Club, and major auto parts stores. Furthermore, its location near Barry University's law school and Colonial High School ensures a consistent customer base. The property is also conveniently located within 5 minutes of Orlando Executive Airport and 15 minutes from Downtown Orlando, a thriving metropolitan area with a population exceeding 2.8 million and a 62% growth rate since 2000. This densely populated area boasts over 309,885 residents within a 5-mile radius and $3.8 billion in consumer spending. This turnkey investment offers significant long-term value and strong potential for appreciation. The asking price is $1,481,500 ($222.11/sq ft).

Location Insight

City

Orlando

County

Orange

State

Florida

Longitude

-81.2983

Latitude

28.5643

CBSA code

36740

CBSA name

ORLANDO-KISSIMMEE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments