515 N Park Ave - Storefront Retail/Office FOR SALE


Apopka, FL 32712
$3,650,000 USD
407-929-1355
515 N Park Ave, Apopka, FL for Sale
$3,650,000 USD
Storefront Retail/Office - FOR SALE
1/6
null | 7% Cap Rate

515 N Park Ave
Apopka, FL 32712


HIGHLIGHTS

  • STRONG YEAR 1 RETURNS WITH UPSIDE YEAR 2: The offering delivers a 7.00% Cap Rate and projects to a 9.87% Cap Rate in Year 2.
  • NEWER CONSTRUCTION PRICED BELOW REPLACEMENT COST + DEVELOPMENT UPSIDE POTENTIAL
  • HIGH-TRAFFIC LOCATION WITH EXCELLENT VISIBILITY: Strategically Located on N Park Ave Across From Dream Lake Elementary and Apopka Memorial Middle.
  • SURROUNDED BY NATIONAL RETAILERS: Nearby Major Retailers Include Walmart, Publix, Lowe’s, and Wendy’s.
  • DIVERSE TENANT MIX: The Center is Home to 9 Tenants, Including National Brands, Medical Providers, and Local Service Operators.

OVERVIEW

Marcus & Millichap’s TC Retail Group is pleased to exclusively present Foster’s Corner, a 18,288-square-foot retail and medical center situated on an oversized 1.90-acre parcel at 515 N Park Ave in Apopka, Florida. Offered at $199.58/SF, the property provides a compelling value proposition with newer construction priced below replacement cost, generating both stability and upside for investors. Foster’s Corner features 9 diverse tenants, including nationally recognized brands, medical practices, and regional service-oriented businesses. With current Net rents averaging $19.55 per square foot, significantly below the Apopka market average of $29.80, the property provides a substantial value-add opportunity with reliable rental income and minimal landlord responsibility. Additionally, the property’s configuration may allow for future retail development along Lake McCoy Drive. Foster’s Corner offers meaningful value-add potential. The center achieves a pro forma cap rate of approximately 9.87%, providing a clear path to enhanced yield and long-term value creation. The site benefits from high visibility and accessibility along N Park Ave across from Dream Lake Elementary and Apopka Memorial Middle School. Nearby anchors including Walmart, Publix, Lowe’s, and Wendy’s drive steady daily traffic and reinforce the center’s long-term tenant demand. Apopka’s strong residential and commercial growth continues to fuel demand for retail and service-oriented space, positioning Foster’s Corner as a premier investment opportunity. The Greater Orlando region’s expanding population and economic base further support long-term stability and appreciation.

FOR SALE DETAILS

PRICE

$3,650,000 USD

PRICE/SF

$200 USD /SF

CAP RATE

7%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Foster's Corner

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Office

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

2008

SPRINKLERS

-

PARKING SPACES

91

LAND DETAILS

CROSS STREETS

N Park Avenue

LAND ACRES

1.9 AC

LAND SF

82,764 SF

ZONING

C1

APN/PARCEL ID

03-2128-4682-00-012

ASK ABOUT THIS PROPERTY

Tarek ChbeirMarcus & MillichapMore Info
407-929-1355

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Tarek ChbeirMarcus & MillichapMore Info
407-929-1355

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.