730 Altamonte Dr Altamonte Springs, FL 32701
- Commercial real estate
- 3,835 SF
Current Use by Public Records
- Commercial real estate
Property Details for 730 Altamonte Dr
- Year built
- 2024
- Property size
- 3,835 SF
- Property type
- Commercial real estate
Description
This exceptional investment opportunity presents a fee-simple ownership of a brand-new, free-standing Panera Bread restaurant in Altamonte Springs, Florida. The property boasts 3,835 square feet and is situated on a highly visible location along East Altamonte Drive (State Road 436), a heavily trafficked corridor with over 75,000 vehicles passing daily. This is a relocation of an existing, successful Panera Bread from a nearby location, ensuring a strong, established tenant. The property features a drive-thru and patio, maximizing customer convenience. The absolute NNN lease commenced December 16, 2024, and has a remaining term of 16.1 years, with 9% rent bumps every 5 years and five 5-year lease options. The current Net Operating Income (NOI) is $162,163, resulting in a 4.50% cap rate. The property is part of the Shoppes at Altamonte, a newly developed retail center featuring other highly sought-after national brands. The location benefits from a strong demographic profile, with average household incomes exceeding $108,000 within a 3-mile radius. Its proximity to major roadways like Interstate 4 and US 17-92, along with its adjacency to AdventHealth Altamonte Springs hospital and Altamonte Mall, further enhances its desirability. The property offers multiple access points, ensuring easy accessibility for customers. This is a rare opportunity to acquire a high-quality, passively managed investment with significant long-term growth potential. The asking price is $3,603,622.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Altamonte Springs
- County
- Seminole
- State
- Florida
- Longitude
- -81.365184983876
- Latitude
- 28.663114772641
