SANFORD PLAZA | UNIT 130 | 100% LEASED | NNN LEASES | 8.50% cap rate

Long Term Leases | Stable Tenants | NNN | Sanford, FL

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PRICE REDUCTION:

$651,000

NEW BUILD OUT | NNN LEASES | TWO TENANTS

PHARMACY AND CHILD PROTECTIVE SERVICES CENTER

Listing Brokers

Costel Vanatoru

Lic. Real Estate Broker

407.403.5775

FL License: FL BK3139052

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SANFORD PLAZA | UNIT 130 | 100% LEASED | NNN LEASES | 8.50% cap rate

Long Term Leases | Stable Tenants | NNN | Sanford, FL

Price (REDUCED)

$651,000

CAP Rate

8.50%

Price/RSF

$179.68

Occupancy

100%

Address

2921 S Orlando DR

Year Renovated

2020

City/State/Zip

Sanford, FL 32771

Unit Size (SF)

3,500  +/-

County

Seminole

Lease Type

NNN

Property Type

Retail/ Office

NOI

$55,338

Use Type

Investment

Building Class

N./A

PID

Per Request

Unit Condition

Full Build Out (Retail/Pharmacy and Office)

Zoning

Commercial/ Office

Ownership Type

Condo

Suites

2

Roof Age

2020

PROPERTY DESCRIPTION

Vanwald & Associates is pleased to present the opportunity to acquire a fully leased retail/office Unit in The Sanford Plaza, located at 2921 Orlando

AVE, STE 129-130, Sanford, Florida.

 

100% Leased. The Unit is fully leased to Bueno Pharmacy and Embrace Families. The Pharmacy has been at this location for three (3) years and just renewed for another five (5) years, starting October 1, 2020. Embrace Families is a national tenant under a new four (4) year lease, with an expected

commencement date of September 1, 2020. Both spaces were built to suit the needs of the tenants. New Roof. The Unit has a brand new roof installed in August of 2020.

 

Great Visibility and Foot Traffic. This is arguably the best unit in the center. Located directly next to Bravo Supermarket, the unit benefits of a captive audience and great exposure and visibility.

 

Long Term NNN Leases. The leases are NNN type leases stipulating that Tenants pay Base Rent (net of expenses), and Additional Rent to cover the yearly Operating Expenses, like property taxes, insurance, association dues, management, etc. The Additional Rent can be adjusted each year according to the actual expenses. This lease structure further protects the asset’s NOI from raising costs and unexpected expenses.

 

The Association (paid by Tenant through additional rent) maintains the parking areas, landscaping, walkways, the exterior of the suite, and more.

All Rights Reserved. Copyright 2016 Vanwald & Associates LLC

Vanwald & Associates LLC | Lic. Real Estate Broker | 6000 Metrowest BLVD STE 101, Orlando, FL 32835

FL Real Estate License: FL BK3139052 | AL Real Estate License: 000125471-0