720 Altamonte Dr Altamonte Springs, FL 32701-4805

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.