Shopping Neighborhood
Sand Lake Plaza | Orlando Core Value-Add | 9.34% Proforma CAP
1233 Sand Lake Rd, Orlando, FL 32809
Listing Price: $6,990,000
Investment Overview
Marcus & Millichap is pleased to present this exceptional investment opportunity at 1233 Sand Lake Road, Orlando, Florida 32809. Boasting a substantial net leasable area of 34,517 square feet on 2.42 acres, this property is strategically located directly across from The Florida Mall®, welcoming over 20 million annual visitors and ensuring substantial long-term growth potential. Situated at a signalized four-way intersection with over 407 feet of frontage along Sand Lake Road, a major Orlando thoroughfare with over 50,000 vehicles per day, it offers unmatched visibility and accessibility. The property presents massive and immediate value-add opportunities through leasing vacant space and increasing rents for tenants below market rates as leases mature. Additionally, it benefits from a prime location among national retailers, including Tesla (next door), Target, Chili's, Chick-fil-A, Publix, Chipotle, Walmart, Marshalls, Ross, Home Depot, Red Lobster, and many more.
Sand Lake Plaza | Orlando Core Value-Add | 9.34% Proforma CAP
Investment Highlights
- Growing Market: Located in a high barrier-to-entry market, surrounded by a growing population of over 190,000 people within a 5-mile radius, with an average household income just over $75,000.
- Market Rents: CoStar reports the overall market asking rent at $29.32 per square foot and the submarket rent at $31.80 per square foot.
- Vacancy: The subject property has a high vacancy rate of over 41%, significantly higher than the market average of 3.6%, according to CoStar.
- Rare Price: Priced at approximately $202 per square foot, well below the replacement cost, and situated on over 2.4 acres on Sand Lake Road.
- Property Leases: Features an Absolute Net lease structure, with tenants covering all expenses, including contributions to reserves and replacement costs.
- Prime Location/Visibility: Located at a 4-way intersection facing The Florida Mall, which attracts over 20 million visitors annually, and adjacent to a Tesla store. Sand Lake Plaza Boasts over 407 feet of frontage on Sand Lake Road, with combined traffic from Orange Blossom Trail (OBT) and Sand Lake Road exceeding 100,000 vehicles per day.
- TRUE Value-Add Potential/Improvements: Offers a rare value-add opportunity with a proforma cap rate of 9.34%, a cash-on-cash return of 11.28%, and a total return of 14.23%. In addition, the roof was replaced in 2020, ensuring reduced maintenance costs.
Exclusively Listed By
Financing By
Shopping Neighborhood
Sand Lake Plaza | Orlando Core Value-Add | 9.34% Proforma CAP
Listing Price: $6,990,000
Investment Highlights
- Growing Market: Located in a high barrier-to-entry market, surrounded by a growing population of over 190,000 people within a 5-mile radius, with an average household income just over $75,000.
- Market Rents: CoStar reports the overall market asking rent at $29.32 per square foot and the submarket rent at $31.80 per square foot.
- Vacancy: The subject property has a high vacancy rate of over 41%, significantly higher than the market average of 3.6%, according to CoStar.
- Rare Price: Priced at approximately $202 per square foot, well below the replacement cost, and situated on over 2.4 acres on Sand Lake Road.
- Property Leases: Features an Absolute Net lease structure, with tenants covering all expenses, including contributions to reserves and replacement costs.
- Prime Location/Visibility: Located at a 4-way intersection facing The Florida Mall, which attracts over 20 million visitors annually, and adjacent to a Tesla store. Sand Lake Plaza Boasts over 407 feet of frontage on Sand Lake Road, with combined traffic from Orange Blossom Trail (OBT) and Sand Lake Road exceeding 100,000 vehicles per day.
- TRUE Value-Add Potential/Improvements: Offers a rare value-add opportunity with a proforma cap rate of 9.34%, a cash-on-cash return of 11.28%, and a total return of 14.23%. In addition, the roof was replaced in 2020, ensuring reduced maintenance costs.
Investment Overview
Marcus & Millichap is pleased to present this exceptional investment opportunity at 1233 Sand Lake Road, Orlando, Florida 32809. Boasting a substantial net leasable area of 34,517 square feet on 2.42 acres, this property is strategically located directly across from The Florida Mall®, welcoming over 20 million annual visitors and ensuring substantial long-term growth potential. Situated at a signalized four-way intersection with over 407 feet of frontage along Sand Lake Road, a major Orlando thoroughfare with over 50,000 vehicles per day, it offers unmatched visibility and accessibility. The property presents massive and immediate value-add opportunities through leasing vacant space and increasing rents for tenants below market rates as leases mature. Additionally, it benefits from a prime location among national retailers, including Tesla (next door), Target, Chili's, Chick-fil-A, Publix, Chipotle, Walmart, Marshalls, Ross, Home Depot, Red Lobster, and many more.
Exclusively Listed By
Financing By
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