Mixed-Use
Foster's Corner | Core - Value Add @ 7.92% CAP Proforma | $190.91 PSF | 1.9 Acre Lot | Orlando MSA
515 N Park Ave, Apopka, FL 32712
Listing Price: $4,200,000
Investment Overview
Marcus & Millichap’s TC Retail Group is pleased to exclusively present an exceptional investment opportunity at Foster’s Corner, a 22,000 square-foot retail/medical center located on an oversized 1.90-acre lot at 515 N Park Ave, Apopka, FL. Priced at $190.91 per square foot, this property offers newer construction below replacement cost and significant value for investors.
Foster’s Corner features a strong tenant mix of 10 diverse businesses, including nationally recognized tenants, medical practices, and regional/local service-oriented businesses. With NNN lease potential and current Net rents at $13.25 per square foot—well below the market average of $29.80—the property provides a substantial value-add opportunity with reliable rental income and minimal landlord responsibilities.
This property benefits from high visibility and accessibility on N Park Ave, a prime location across from Dream Lake Elementary and Apopka Memorial Middle School. The area’s high traffic volume ensures consistent visibility, supported by nearby major retailers such as Walmart, Publix, Lowe’s, and Wendy’s. These anchor tenants drive significant foot traffic, further enhancing the site’s appeal.
Apopka’s booming market, characterized by robust residential and commercial development, positions Foster’s Corner as a premier investment opportunity. The Greater Orlando area’s sustained economic growth solidifies this property’s long-term potential for both stability and capital appreciation.
Foster's Corner | Core - Value Add @ 7.92% CAP Proforma | $190.91 PSF | 1.9 Acre Lot | Orlando MSA
Investment Highlights
- MARKET & PROPERTY VACANCY: With a submarket vacancy of 1.1% and market vacancy at 3.2%, the property's 7.3% vacancy offers substantial value-add potential. (Per Costar Reports)
- STRONG TENANT MIX: The property features 10 diverse tenants, including national tenants, medical, and regional/local service-oriented businesses, providing a stable and diversified income stream.
- HIGH TRAFFIC LOCATION: Located on N Park Ave, across from Dream Lake Elementary and Apopka Memorial Middle School, the center benefits from strong visibility and constant traffic flow.
- NEWER CONSTRUCTION PRICED BELOW REPLACEMENT COST | OVERSIZED LOT: Foster's Corner is priced at $190.91 per square foot, well below current replacement costs, offering significant value for investors. Additionally, the property sits on an oversized 1.90 Acres with room for potential development.
- VALUE-ADD OPPORTUNITY: Current net rents at $13.25 per square foot are far below the market average of $29.80, with room for growth and the potential to convert leases to NNN for higher returns. (Per Costar Reports)
- STABLE INCOME WITH LEASE ESCALATIONS | VACANCY: The property boasts a 6.94% CAP rate in Year 1, with future upside due to lease escalations across the tenant base. Additionally, leasing the vacant space can lead to additional rent with a projected Year 2 proforma of 7.92%.
- SURROUNDED BY NATIONAL RETAILERS: Some nearby major retailers include Walmart, Publix, Lowe's, and Wendy's, reinforcing the property's position in a bustling commercial hub.
- ORLANDO MARKET| BOOMING MARKET: Situated in the rapidly expanding Apopka market, with strong residential and commercial development, the property is well-positioned for long-term growth within the Greater Orlando area.
Exclusively Listed By
Financing By
Mixed-Use
Foster's Corner | Core - Value Add @ 7.92% CAP Proforma | $190.91 PSF | 1.9 Acre Lot | Orlando MSA
Listing Price: $4,200,000
Investment Highlights
- MARKET & PROPERTY VACANCY: With a submarket vacancy of 1.1% and market vacancy at 3.2%, the property's 7.3% vacancy offers substantial value-add potential. (Per Costar Reports)
- STRONG TENANT MIX: The property features 10 diverse tenants, including national tenants, medical, and regional/local service-oriented businesses, providing a stable and diversified income stream.
- HIGH TRAFFIC LOCATION: Located on N Park Ave, across from Dream Lake Elementary and Apopka Memorial Middle School, the center benefits from strong visibility and constant traffic flow.
- NEWER CONSTRUCTION PRICED BELOW REPLACEMENT COST | OVERSIZED LOT: Foster's Corner is priced at $190.91 per square foot, well below current replacement costs, offering significant value for investors. Additionally, the property sits on an oversized 1.90 Acres with room for potential development.
- VALUE-ADD OPPORTUNITY: Current net rents at $13.25 per square foot are far below the market average of $29.80, with room for growth and the potential to convert leases to NNN for higher returns. (Per Costar Reports)
- STABLE INCOME WITH LEASE ESCALATIONS | VACANCY: The property boasts a 6.94% CAP rate in Year 1, with future upside due to lease escalations across the tenant base. Additionally, leasing the vacant space can lead to additional rent with a projected Year 2 proforma of 7.92%.
- SURROUNDED BY NATIONAL RETAILERS: Some nearby major retailers include Walmart, Publix, Lowe's, and Wendy's, reinforcing the property's position in a bustling commercial hub.
- ORLANDO MARKET| BOOMING MARKET: Situated in the rapidly expanding Apopka market, with strong residential and commercial development, the property is well-positioned for long-term growth within the Greater Orlando area.
Investment Overview
Marcus & Millichap’s TC Retail Group is pleased to exclusively present an exceptional investment opportunity at Foster’s Corner, a 22,000 square-foot retail/medical center located on an oversized 1.90-acre lot at 515 N Park Ave, Apopka, FL. Priced at $190.91 per square foot, this property offers newer construction below replacement cost and significant value for investors. Foster’s Corner features a strong tenant mix of 10 diverse businesses, including nationally recognized tenants, medical practices, and regional/local service-oriented businesses. With NNN lease potential and current Net rents at $13.25 per square foot—well below the market average of $29.80—the property provides a substantial value-add opportunity with reliable rental income and minimal landlord responsibilities. This property benefits from high visibility and accessibility on N Park Ave, a prime location across from Dream Lake Elementary and Apopka Memorial Middle School. The area’s high traffic volume ensures consistent visibility, supported by nearby major retailers such as Walmart, Publix, Lowe’s, and Wendy’s. These anchor tenants drive significant foot traffic, further enhancing the site’s appeal. Apopka’s booming market, characterized by robust residential and commercial development, positions Foster’s Corner as a premier investment opportunity. The Greater Orlando area’s sustained economic growth solidifies this property’s long-term potential for both stability and capital appreciation.
Exclusively Listed By
Financing By
To view property details and documents, sign up for a free MyMMI account.
Explore exclusive listings, access research insights, and set up automated alerts for a personalized experience. Sign up now to elevate your property search.
