Miscellaneous
West Marine | 7 Years Remaining | Recent Blend Extend
670 Lee Rd, Orlando, FL 32810
Listing Price: $3,426,864
Investment Overview
The Tenant, West Marine Products, Inc., extended its lease in 2023, providing an additional seven years of term. The lease features rental increases of 11 percent (11%) in year two, and five percent (5%) in year six of the extension, providing a hedge against inflation. The Tenant has operated here successfully since 2012. As part of the recent extension, West Marine agreed to paint the exterior and seal coat the parking lot. (Note: said improvements have not yet taken place and may not be completed by the time of Marketing). This extension, along with geofencing data support that this is a healthy location. Per Placer.ai, this location is the best of two stores in the Orlando Metro, and #73 of 123 chain wide, with 35,500 annual customer visits.
Listing Price: $3,426,864
Investment Highlights
- LEADING BOATING RETAILER WITH 240+ LOCATIONS
- RECENTLY EXTENDED CORPORATE LEASE WITH STRONG SUPPORTING PLACER.AI DATA
- INFILL, GROWING ORLANDO SUBMARKET; TAX-FREE STATUS
Investment Overview
The Tenant, West Marine Products, Inc., extended its lease in 2023, providing an additional seven years of term. The lease features rental increases of 11 percent (11%) in year two, and five percent (5%) in year six of the extension, providing a hedge against inflation. The Tenant has operated here successfully since 2012. As part of the recent extension, West Marine agreed to paint the exterior and seal coat the parking lot. (Note: said improvements have not yet taken place and may not be completed by the time of Marketing). This extension, along with geofencing data support that this is a healthy location. Per Placer.ai, this location is the best of two stores in the Orlando Metro, and #73 of 123 chain wide, with 35,500 annual customer visits.
