13935 Landstar Blvd - Storefront Retail/Office FOR SALE


Orlando, FL 32824
$9,780,000 USD
310-691-1350
13935 Landstar Blvd, Orlando, FL for Sale
$9,780,000 USD
Storefront Retail/Office - FOR SALE
1/8
null | 5.5% Cap Rate

13935 Landstar Blvd
Orlando, FL 32824


HIGHLIGHTS

  • 100% Leased Multi-Tenant Center: Starbucks (Drive-Thru), Heartland Dental, Chipotle (Drive-Thru), Tropical Smoothie Cafe, MD Now Urgent Care, TN Nails
  • Signalized Hard-Corner Location - Exceptionally located retail at first signalized intersection off Hwy 417, a major east-west route in Orlando
  • Located in Rapidly Growing Orlando, Florida Metro - 20% Population Growth
  • Long-Term Leases with Near-Term Rent Increases
  • Centrally Located Amidst Landstar Retail Corridor
  • Strong Mix of Corporate Food & Service Tenancy with Near Term Rent Increases

OVERVIEW

Pegasus Investments Real Estate Advisory Inc. and ParaSell, Inc., as exclusive investment sale advisors to Seller, are excited to offer the opportunity to acquire a fully leased multi-tenant retail center in Orlando, Florida (“The Property”). The Property presents a compelling investment opportunity with a mix of strong food and service tenancy within two (2) multi-tenant buildings situated on a 3.29-acre parcel. Building A is a two-tenant strip leased to Starbucks and Heartland Dental. Building B is a four-tenant strip featuring a drive-thru Chipotle and an MD Now Urgent Care on the endcaps. Moreover, corporate leases from Chipotle, Starbucks, Heartland Dental and MD Now Urgent Care cover a substantial 78% of the GLA and 81% of the NOI at the Property. Investors will also be able to capitalize on near term rent increases, as five of the six tenants have 10% rent bumps within the next 24 months. The Property is prominently situated at a prime location on Landstar Blvd., strategically positioned at a hard corner at the first signalized intersection off Hwy 417 with extremely heavy average traffic counts exceeding 70,000 VPD. The Property sits in the middle of the Landstar retail corridor, adjacent to the #2 most visited Walmart Neighborhood Market in the entire state of Florida (2 out of 97, more than 1.3 million annual visitors, per placer.ai). Across the street, the Publix anchored Meadow Woods Plaza adds another 70,000 SF of leased space and hosts an additional 1+ million visitors annually as well. The strategic positioning enhances the Property’s visibility and accessibility, making it a cornerstone in the vibrant retail landscape of south Orlando. The Property is strategically nestled in the Orlando-Kissimmee-Sanford metro, the third-largest metroplex in Florida and the third-fastest growing metro in the United States (data from the most recent US Census (2020), World-Meters, worldclimate.com, bestplaces.net, and related sources). With a population of nearly 3 million people, the metro is also the seventh-largest metro in the southeastern United States. Speaking to the exceptional fundamentals of the market, population growth in the Orlando metro area has been on a steady upward trajectory, fueled by a combination of factors such as an influx of new residents drawn by the region’s vibrant economy, job opportunities, and its status as a popular tourist destination. According to the US Census, Orlando’s population has added ~700,000 (+30%) new residents since 2010, as well as ~100,000 new residents since 2020 alone, making it one of the fastest-growing metros in the United States over the last decade. Situated in the thriving southern region of Orlando, the Property capitalizes on a population exceeding 100,000 with average household incomes of $85,000 in a 3-mile radius. Highly populated local demographics combined with Orlando’s dynamic lifestyle and sustained economic growth will continue to drive up retail rents in the marketplace and position the Property as an attractive investment opportunity.

FOR SALE DETAILS

PRICE

$9,780,000 USD

PRICE/SF

$1,368 USD /SF

CAP RATE

5.5%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Landstar Commons

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Office

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2021

SPRINKLERS

-

PARKING SPACES

123

LAND DETAILS

LAND ACRES

3.29 AC

LAND SF

143,312 SF

ZONING

-

APN/PARCEL ID

25-24-29-5567-01-003

ASK ABOUT THIS PROPERTY

David ChasinPegasus InvestmentsMore Info
310-691-1350

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David ChasinPegasus InvestmentsMore Info
310-691-1350

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.