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Off Market
1/2

450 S Orlando Ave
Maitland, FL 32751


HIGHLIGHTS

  • Five Years Remaining on an Original 20-Year Lease
  • Absolute Triple Net (NNN) Ground Lease with Zero Landlord Responsibilities
  • Regions Bank is the Guarantor for the Remainder of the Base Term | Property is Currently Subleased to MIDFLORIDA Credit Union
  • Attractive rental increases of 12 percent (12.0%) every 5 years
  • Dense Retail and Residential Corridor | Surrounding Retailers Include: Publix, Starbucks, McDonald’s, Walgreens, Chase, PNC, Bank of America
  • Four (4), Five-(5) Year Tenant Renewal Options

OVERVIEW

The subject investment property is located at 450 South Orlando Avenue in Maitland, Florida. Maitland is a suburban city in Orange County, and part of the Greater Orlando area. It is approximately eight miles north of downtown Orlando. Maitland has a strong population count with approximately 97,200 individuals residing within a three-mile radius of the property and more than 275,100 individuals within a five-mile radius. This MIDFLORIDA Credit Union is located on South Orlando Avenue, which experiences an average daily traffic count of 51,535 vehicles. Nearby East Horatio Avenue brings an additional 37,985 vehicles per day to the area. Additionally, Maitland Avenue runs parallel to South Orlando Avenue, which experiences average daily traffic counts exceeding 26,000. The subject property benefits from its proximity to Interstate-4, which provides easy transportation access to neighboring Orlando, as well as Daytona Beach to the north and Tampa to the southwest. Located in a dense residential and retail corridor, MIDFLORIDA Credit Union is surrounded by many national retailers and banks including Publix, Starbucks, McDonald’s, Walgreens, Chase, PNC, Bank of America, SunTrust, Wells Fargo and many more. There are several condominium and apartment complexes within a half-mile of the subject property including the Q at Maitland, The Village at Lake Lily (250+ units) and Lake Maitland Terrace Condos (181 units). Maitland is one of the oldest incorporated suburban municipalities in central Florida. As a major suburb of Orlando, the town's "historical corridor" encompasses old residences still standing and occupied in the Lake Lily - Lake Catherine area and extending through the central portion of the city. The area has always been a vacation spot because of its climate, location to theme parks and people. However, Maitland has recently become a location where affluent individuals have come to reside. Maitland’s Community Redevelopment Agency currently has an updated 2017 Master Plan in order to promote business retention and new business recruitment through the expansion of downtown Maitland, connection of public spaces, road and sidewalk improvements and new building additions. In total, these redevelopments will help attract new residents and businesses alike, further expanding the success of the city.

FOR SALE DETAILS

PRICE

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CAP RATE

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% LEASED

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TENANCY

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BUILDING DETAILS

PROPERTY NAME

Regions Bank (MIDFLORIDA Credit Union)

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Bank

TOTAL BUILDING SIZE

3820

STORIES

1

YEAR BUILT

2006

SPRINKLERS

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PARKING SPACES

47

LAND DETAILS

LAND ACRES

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LAND SF

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ZONING

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APN/PARCEL ID

36-2129-7962-01-000