5076-5114 North Ln - Storefront FOR SALE
Orlando, FL 32808 |
5076-5114 North Ln
Orlando, FL 32808
HIGHLIGHTS
- OPPORTUNITY: Achieve a proforma 10.07% cap rate by leasing vacant space and adding reimbursement clauses to current leases for added value.
- HIGH CASH-ON-CASH PROFORMA RETURN: 13.03% is achievable through lease-up and operational improvements. The property is priced at $134.44 per sq. ft.
- MARKET DYNAMICS: This property has a 20.40% vacancy rate, presenting a value-add opportunity in a market with a low overall vacancy rate of 3.50%.
- RENTAL RATE UPSIDE: Average rents are $16.30 per sq. ft., below the CoStar average of $29.48, offering a strong opportunity for rent growth.
- PROPERTY OVERVIEW: The roof was replaced in 2020, reducing costs. The center features 21,600 sq. ft. across 11 units and sits on 1.88 acres.
- MAJOR MARKET LOCATION: This property is near 7-Eleven and Walmart, offering high visibility and traffic, and is close to a major Orlando intersection.
FOR SALE DETAILS
PRICE
-
CAP RATE
-
% LEASED
-
TENANCY
-
BUILDING DETAILS
PROPERTY NAME
North Lane Plaza
PROPERTY TYPE
Retail
PROPERTY SUBTYPE
Storefront
ADD'L SUBTYPES
Storefront Retail/Office
TOTAL BUILDING SIZE
21600
STORIES
1
YEAR BUILT
1986
SPRINKLERS
-
PARKING SPACES
93
LAND DETAILS
LAND ACRES
-
LAND SF
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ZONING
-
APN/PARCEL ID
07-2229-6974-03-230
