Apopka, FL - Starbucks & Heartland Dental

Description:

SRS Multi-Tenant Investments is pleased to offer the opportunity to acquire the fee simple interest (land and building ownership) in a freestanding, drive-thru-equipped, two-tenant retail building investment property located in Apopka, Florida (Orlando MSA). The offering features a strong E-Commerce-resistant tenant lineup of Starbucks and Heartland Dental. Both tenants recently signed brand-new 10-year leases, demonstrating their commitment to the site. The leases feature 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, growing NOI and hedging against inflation. The leases are NNN, limiting expense leakage for a future investor. The newly constructed building will feature a state-of-the-art design and high-quality materials.

The subject property is strategically positioned along Rock Springs Road, a major retail and commuter thoroughfare, averaging more than 22,000 vehicles passing by daily. Additionally, it benefits from being located near the major signalized intersection of E. Welch Road and Rock Springs Road (combined 38,600 VPD). The site is equipped with a drive-thru, providing ease and convenience for customers. On average, stores with drive-thrus experience higher sales than those without. The asset is ideally situated across from the heavily trafficked Wekiva Plaza, a Publix-anchored shopping center that serves over 1.8 million visitors per year (per Placer.ai). This Publix ranks in the top 6% of the most visited Publix stores nationwide, increasing consumer draw to the immediate trade area and promoting crossover store exposure for the site. The 5-mile trade area is supported by more than 114,000 residents and 24,800 daytime employees. Residents within a 3-mile radius of the subject property boast an average household income of $108,344.