670 Lee Rd - Freestanding FOR SALE


Orlando, FL 32810
$3,312,607 USD
786-522-7013
670 Lee Rd, Orlando, FL for Sale
$3,312,607 USD
Freestanding - FOR SALE
1/5
null | 6.75% Cap Rate

670 Lee Rd
Orlando, FL 32810


HIGHLIGHTS

  • 12,792 Square Feet West Marine Property Located at 670 Lee Road in Orlando, Florida (2.6 Million People Population) and Popular Tourist Destination
  • Tenant West Marine Has Extended Lease in 2023 for 7 Years With Rental Increases of 11% in Year Two and 5% in Year Six of the Extension
  • Located on Signalized Corner Parcel With 43,500 Vehicles Per Day Located Along Lee Road/Route 423 Near Interstate 4 (165,500 Vehicles Per Day)
  • Property is 5 Miles North of Orlando’s Central Business District and One-Mile South of Maitland Center Which are two of Orlando’s Largest Employment
  • West Marine, Inc. has More Than 240 Stores Located in 38 States and Puerto Rico and Also an e-Commerce Website
  • Florida is a No Income Tax State

OVERVIEW

Marcus & Millichap is pleased to present for sale this 12,792 Square Feet West Marine Products Store located on 2.32 acres at 670 Lee Road in Orlando, Florida. The Tenant, West Marine Products, Inc. has been the premier retailer of boating, fishing and sailing gear for more than 50 years and has extended its lease in 2023 for an additional 7 years. This attractive Double Net Lease features rental increases of 11 percent in year two and 5 percent in year six of the extension. This West Marine location boasts over 35,500 annual customer visits and benefits from occupying a prominent signalized corner parcel with strong traffic volume of 43,500 vehicles per day. This property is located across Lee Road from a busy Home Depot Store and neighboring Orlando Executive Park (three-building 100,000 sf office property.) This West Marine Tenant is also exceptionally located along Lee Road/Route 423 near Interstate-4 (165,500 VPD). This West Marine Property is located in the Orlando Metro Area, which is one of the largest and fastest growing metros in Florida with a population over 2.6 million people and one of the country’s most popular tourist destinations that draw over 70 million annual visitors. The property is five-miles north of Orlando's Central Business District and one-mile south of Maitland Center which are two of Orlando’s largest employment hubs. Florida is the boating capital of the United States and as per The Florida Fish and Wildlife Conservation Commission, has more than 1 million registered boating vehicles as of 2022. The West Marine Store is ideally located in an area with a heavy concentration of boaters. West Marine, Inc. has more than 240 stores located in 38 states and Puerto Rico and also boasts an e-commerce website. West Marine was acquired in April 2021 by L. Catterton which is one of the largest global consumer focused private equity firms with extensive experience building brands. L. Catterton has over $25 Billion of equity capital across its fund strategies and 17 offices around the world.

FOR SALE DETAILS

PRICE

$3,312,607 USD

PRICE/SF

$259 USD /SF

CAP RATE

6.75%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1998

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

2.32 AC

LAND SF

101,059 SF

ZONING

C2, County

APN/PARCEL ID

02-2229-0000-00-003

ASK ABOUT THIS PROPERTY

Ronnie IssenbergMarcus & MillichapMore Info
786-522-7013

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Ronnie IssenbergMarcus & MillichapMore Info
786-522-7013

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