The Shoppes at Hunt Club | Multi-Tenant Retail Center

444 - 510 S Hunt Club Blvd, Apopka, FL

$10,350,000

Price

7.15%

Cap Rate

$739,925

NOI

Overview
Cap Rate
7.15%
NOI
$739,925
Building Size
94,250 sqft
Lot Area
10.31 acres
Occupancy
94%
Lease Type
Triple Net
Built/Renovated
1984/ 2017
Price Per Sqft
$109.78
Zoning
Commercial PUD
Parking Spots
423
Description

The Shoppes at Hunt Club, a 91,775 Square-Foot Retro Fitness and Rebounderz anchored Neighborhood Center, and a 2,500 Square-Foot Topper’s Creamery outparcel, which is located in Apopka, FL, a suburb of Orlando and the second largest city in Orange County, FL.

The property is shadow anchored by Hunt Club Corners, a Publix anchored Shopping, and is currently improved with a freestanding, multi-tenant retail Neighborhood Center. The asset has 500 feet of frontage on South Hunt Club Boulevard, and the total land size of the property is 10.31 acres (449,240 square-feet)— a large sized parcel for a retail building with frontage on South Hunt Club Blvd.

The current one-story structure was originally built in 1984 and has since undergone significant renovations; in 2017 the parking lot was completely resealed and restriped, the trees were all trimmed, the roof was repaired, and extensive renovations were made to the building’s facade.

The parking lot contains 423 parking spaces, which equates to 4.49 spots per 1,000 square-feet. The property is zoned Planned Unit Development (“PUD”). The investment is currently occupied by fifteen total tenants—inclusive of the outparcel which is subject to a Topper’s Creamery ground lease, and has one, 1,464 SF vacant unit.

Highlights
  • Shadow Anchored by Publix Center
  • Includes 2,500 SF Outparcel with Guarantee from a Strong Franchisee
  • Current Rental Rates Provide Opportunity to Add Value Through Rent Increases
  • Strong Mix of National, Regional, & Local Tenants
  • Over Two Hundred Million Dollars of New Development Planned & Approved by City of Apopka
  • Orlando MSA, Ranked #1 in Job Growth for 2014-2017
  • Income Tax Free State
Documents
Title
Offering Memorandum
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Location
Gallery