For Sale
$4,914,000

446 Rinehart RdLake Mary, FL 32746

High-yield, 100% occupied retail center.

Overview

Added:
Dec 11, 2024
Days on market:
117
This exceptional investment opportunity presents a fee-simple interest in a brand-new, 7,224 square foot Class A retail building situated on a 1.6-acre lot in Lake Mary, Florida (Orlando MSA). Completed in 2023, the property boasts 100% occupancy with three national tenants: Urgent Vet, 100% Chiropractic, and Rumble Boxing, all under 10-year NNN leases featuring annual rent bumps. The property offers a compelling 5.90% cap rate and a strong NOI of $289,976. The strategic location is adjacent to Orlando Health's new Lake Mary Campus (250+ beds), ensuring high visibility and foot traffic. The building provides ample parking (5 spaces per 1,000 sq ft). This multi-tenant retail center presents a secure, high-return investment with significant long-term growth potential. The asking price is $4,914,000, translating to $680.23 per square foot. This is a 1031 exchange-eligible property. The property is part of a larger development including medical office buildings, further enhancing its value and appeal. The tenant mix is synergistic, creating a strong and stable revenue stream.

Highlights

  • New construction storefront retail buildings, available for individual or portfolio purchase.
  • Ten-year NNN leases with built-in annual rent increases; tenant mix includes Jimmy John's, Urgent Vet, Clean Eatz, Heartland Dental, and 100% Chiropractic.
  • Adjacent to Orlando Health's new 250+ bed Lake Mary campus and a new multi-specialty medical office building, with a planned 28,000 SF medical office building.
  • Located within the new 150-acre, $800 million Lake Mary Wellness and Technology Park.

Property Details for 446 Rinehart Rd

Property type
Lifestyle centers, Power centers
Square Feet
7,224 SF
Class
A
Year Built
2023
Buildings
1
Lot Size (sq. ft)
69,696 SF

Location Insight

City
Lake Mary
County
Seminole
State
Florida
Latitude
28.7713032
Longitude
-81.3478314
446 Rinehart Rd, Lake Mary, Florida

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446 Rinehart Rd
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