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Shopping Strip

IHOP Anchored University Retail Center

11565 University Blvd, Orlando, FL 32817

Listing Price: $4,460,000

Cap Rate
6.25%
Gross SF
10,518
Rentable SF
10,518
Price/Gross SF
$424.03
Lot Size
1.55 acres
Year Built
1961

Investment Overview

Marcus & Millichap is pleased to present University Center, a 10,518 square foot strip center anchored by IHOP. The shopping strip's nationally recognized tenants occupy 67% of the GLA and contribute 69% of current base rental income. University Center is currently 100% occupied offering an investor the opportunity to acquire a stabilized asset including an IHOP outparcel in a thriving community. The property is located in northeast Orlando Florida just 1 mile from the University of Central Florida which is the largest in the US with over 66,000 students. Situated parallel to a primary retail corridor, University Center has excellent visibility and a traffic count of 47,000 vehicles per day. The area reflects outstanding demographics with a 5-Mile population of over 236,000 and average annual household incomes of $80,000. The local area has experienced excellent growth of 45% since 2000. Commercial retail property fundamentals are solid with a submarket vacancy for retail strip centers of only 2.9%. Additionally, the submarket known as "University" has demonstrated resilience in difficult market conditions with a reported 12 month rent growth of 2.0%.

Investment Highlights

  • Anchored by National Tenants with 67% GLA
  • 100% Leased Strip Center includes IHOP Outparcel
  • Parallel to Primary Retail Corridor with 47,000 AADT
  • 5 Mile Radius Population over 236,000
  • Low Strip Center Market Vacancy of only 2.9%
  • 1 Mile from University of Central Florida with 66k Students

Exclusively Listed By

Broker of Record

  • Ryan Nee

    First Vice President / District Manager

    (954) 245-3400

    License(s) FL: BK3154667

    Florida

Shopping Strip

IHOP Anchored University Retail Center

Listing Price: $4,460,000

Cap Rate
6.25%
Gross SF
10,518
Rentable SF
10,518
Price/Gross SF
$424.03
Lot Size
1.55 acres
Year Built
1961

Investment Highlights

  • Anchored by National Tenants with 67% GLA
  • 100% Leased Strip Center includes IHOP Outparcel
  • Parallel to Primary Retail Corridor with 47,000 AADT
  • 5 Mile Radius Population over 236,000
  • Low Strip Center Market Vacancy of only 2.9%
  • 1 Mile from University of Central Florida with 66k Students

Investment Overview

Marcus & Millichap is pleased to present University Center, a 10,518 square foot strip center anchored by IHOP. The shopping strip's nationally recognized tenants occupy 67% of the GLA and contribute 69% of current base rental income. University Center is currently 100% occupied offering an investor the opportunity to acquire a stabilized asset including an IHOP outparcel in a thriving community. The property is located in northeast Orlando Florida just 1 mile from the University of Central Florida which is the largest in the US with over 66,000 students. Situated parallel to a primary retail corridor, University Center has excellent visibility and a traffic count of 47,000 vehicles per day. The area reflects outstanding demographics with a 5-Mile population of over 236,000 and average annual household incomes of $80,000. The local area has experienced excellent growth of 45% since 2000. Commercial retail property fundamentals are solid with a submarket vacancy for retail strip centers of only 2.9%. Additionally, the submarket known as "University" has demonstrated resilience in difficult market conditions with a reported 12 month rent growth of 2.0%.

Exclusively Listed By

Broker of Record

  • Ryan Nee

    First Vice President / District Manager

    (954) 245-3400

    License(s): FL: BK3154667

    Florida

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