720 Altamonte Dr, Altamonte Springs, FL 32701-4805
- Community centers
- 56,710 SF
- 2.74 lot acres
Current Use by Public Records
- Community centers
Property Details for 720 Altamonte Dr
- Year built
- 1973
- Construction
- CONCRETE BLOCKS
- Lot size
- 2.74 lot acres
- Property type
- Community centers
- Property subtype
- Shopping centers
- APN
- 12-21-29-5BE-0000-4270
- APU
- 1221295BE00004270
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Mar 21, 2025 | $4,325,000 | Jesus Velunza | 436 Property Investors LLC | Special Warranty Deed | — |
| May 11, 2021 | $3,900,000 | 436 Property Investors LLC | Keyser Keyser Lewis LLC | Special Warranty Deed | $10M · Pinncacle Bank |
Description
This exceptional investment opportunity presents a newly built, 3,900 square foot First Watch restaurant located at 720 E Altamonte Dr, Altamonte Springs, FL 32701. The property boasts a prime location in a high-traffic area with excellent visibility on SR 436, benefiting from over 75,000 vehicles daily. This Class A, fee-simple asset features a 10-year absolute NNN lease with a corporate guarantee, commencing December 16, 2024, and expiring January 1, 2035. The lease includes a 10% rent increase every five years, ensuring consistent income growth. The property's strong financial performance is reflected in its 5.25% cap rate and a Net Operating Income (NOI) of $230,100. Situated within the Shoppes at Altamonte, an infill redevelopment project, this First Watch location benefits from the synergy of other high-profile national tenants. The surrounding area boasts a dense population with above-average household incomes, further enhancing the investment's appeal. The property's proximity to major roadways, including Interstate 4 and US 17-92, and its adjacency to AdventHealth Altamonte Springs hospital campus and Altamonte Mall, contribute to its exceptional location and strong tenant demographics. This is a rare opportunity to acquire a high-performing, passively managed investment with significant long-term growth potential.
Value Estimations
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Location Insight
- Map
- Local Demand
- City
- Altamonte Springs
- County
- Seminole
- State
- Florida
- Longitude
- -81.3694
- Latitude
- 28.6638
- CBSA code
- 36740
- CBSA name
- ORLANDO-KISSIMMEE, FL METROPOLITAN STATISTICAL AREA
