Cap Rate
6%
Price Per SF
$233
Gross SQFT
6,825
Year Built
2002
Term Remaining
±8.50 YRS
NOI
$95,506
Property Type
Retail
INVESTMENT HIGHLIGHTS
LEASE & LOCATION HIGHLIGHT
- 2002 build-to-suit construction for Advance Auto Parts
- Advance Auto signed a brand new lease in 2020, proving their long term commitment to the location and market
- Attractive 10% rental increase in 2028
- ±8.50-Years remaining on the base term of the lease
- 5-Mile population of 309,152 residents.
- Average household income of $102,191 annually
- Traffic counts exceed ±62,100 vehicles daily at the intersection of Lake Underhill and Goldenrod Rd
- Located directly across from AdventHealth Orlando, a 295 bed full-service community hospital
TENANT HIGHLIGHTS
- Advance Auto Parts is one of the nation’s largest automotive aftermarket parts.
- Advance Stores Company, Incorporated (NYSE: AAP) guarantees the lease and is rated as investment-grade credit (S&P Rated: BBB-)
- Advance Auto Parts is considered an essential business and has been consistent with staying open and paying rents on time throughout COVID-19.
Broker of Record
- Kyle Matthews
- License No. CQ1066435 (FL)
- (866) 889-0550
- Matthews Real Estate Investment Services, Inc
- 1600 West End,
Ste. 1500 Nashville, TN 37203