17260 US Highway 441 - Freestanding FOR SALE


Mount Dora, FL 32757
$4,820,000 USD
310-691-1350
17260 US Highway 441, Mount Dora, FL for Sale
$4,820,000 USD
Freestanding - FOR SALE
1/7
null | 5.75% Cap Rate

17260 US Highway 441
Mount Dora, FL 32757


HIGHLIGHTS

  • Outparcel to a Target and Top 10 performing Walmart Supercenter in Florida and a Top 200 store nationally (94% Placer.ai)
  • Prominently situated at entrance to shopping center with 7 million annual visitors
  • 100% leased to food, service, and retail tenancy - 64% of the NOI secured by corporate credit
  • Below market rents - $34 PSF average rents below national average and replacement cost
  • Large ± 1.5-acre parcel with 60 surface level parking spots ideal for all retail users

OVERVIEW

Pegasus Investments Real Estate Advisory Inc. (“Pegasus”) and ParaSell, Inc. are pleased to offer for sale a 100% leased multi-tenant retail asset located at 17260-17280 US Highway 441, Mount Dora, Florida (the “Property”). This high-performing retail asset is uniquely positioned within a rapidly growing and heavily trafficked retail corridor in north Orlando, providing an exceptional opportunity for investors seeking long-term stability and growth potential in one of the most desirable metros in the country.  The Property is fully leased to a diverse mix of food, service, and retail tenants with long-term historical occupancy – three of the four tenants have already exercised extension options. Further, 64% of the net operating income (NOI) is secured by corporate credit, providing added income security and predictable cash flows. Long-term tenants - Aspen Dental, GameStop, and Jersey Mike’s, have maintained more than 10 years of continuous occupancy, underscoring the Property’s enduring appeal and success in driving tenant sales. Each has naturally exercised lease renewal options, demonstrating a strong commitment to the Property and reflecting their solid performance at this location. The Property spans a large ±1.5-acre parcel and features 60 surface-level parking spots, offering convenient access for both tenants and customers. The ample parking capacity, combined with its prime location along a major retail corridor, makes the Property an ideal destination for retail tenants. Additionally, the Property offers below-replacement-cost rents, with an attractive average rent of $34 per square foot (PSF), which is below the market average for national retail tenants. This offers substantial value for investors, as Jersey Mike’s is currently paying $24 PSF, which is $10 below the average rent for the Property and even further below market rent, presenting a unique value-add opportunity when their lease expires.   The Property further benefits from its exclusive position as the only multi-tenant outparcel to a top 10 performing Walmart Supercenter in Florida, a store that also ranks within the top 200 stores nationally, according to Placer.ai data (94% Walmart). This strong anchor tenant drives significant foot traffic to the surrounding area, enhancing the overall appeal of the Property to tenants and investors alike. Prominently located at a primary entrance to this Walmart Supercenter, the Property is also an outparcel to a Target (54% Placer.ai) and Epic Theaters (74% Placer.ai), collectively drawing nearly 7 million visitors annually. Moreover, its prime positioning between Panda Express and Chick-fil-A, two of the nation’s leading quick-service restaurant (QSR) operators, creates an even greater volume of foot and vehicle traffic near the Property. Furthermore, the Property enjoys a highly visible and accessible location along U.S. Highway 441, a major thoroughfare with 49,000 vehicles per day (VPD). The Mount Dora submarket of Orlando has experienced substantial retail development since 2015, further increasing the Property’s value. Surrounding the Property are well-established retail brands such as Panda Express, Aldi, Panera Bread, LongHorn Steakhouse, and Miller’s Ale House, creating a thriving retail environment. Additionally, two new multi-tenant retail strips have been developed across from the Property, further increasing market rent levels and boosting tenant demand for space in this highly sought-after area. Significant residential development is also underway in Mount Dora, contributing to the area’s long-term growth potential. There are currently 17 multi-tenant housing projects in the planning or construction phase, totaling 4,181 units, along with 22 single-family housing projects that will add another 3,177 homes to the market. These developments are expected to drive further population growth and demand for retail services, enhancing the long-term value of the Property and increasing its ability to increase rents and attract future tenants if necessary. Florida continues to be the most highly sought-after state for multi-tenant retail property investment, reflected by the lowest average cap rates for similar products across the U.S. The Property’s location in a rapidly developing market, paired with strong, long-term tenants and competitive rental rates, positions it as an outstanding investment opportunity with attractive appreciation potential.

FOR SALE DETAILS

PRICE

$4,820,000 USD

PRICE/SF

$591 USD /SF

CAP RATE

5.75%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

100% Leased Multi-Tenant Retail Strip

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Fast Food

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2008

SPRINKLERS

-

PARKING SPACES

60

LAND DETAILS

LAND ACRES

1.46 AC

LAND SF

63,685 SF

ZONING

C3

APN/PARCEL ID

24-19-26-2500-000-00300

ASK ABOUT THIS PROPERTY

Daylin AckermanPegasus InvestmentsMore Info
310-691-1350

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Daylin AckermanPegasus InvestmentsMore Info
310-691-1350

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