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10-14 W Illiana St 10,612 SF Industrial Building Orlando, FL 32806 $2,600,000 ($245.01/SF) 4.70% Cap Rate
Investment Highlights
- ~11,171 SF two-building industrial asset in SoDo.
- Current rent below market; embedded NOI growth at renewal.
- New roofs and HVAC reduce near-term capital exposure.
- 100% leased to tenant in place since 2019.
- Tenant has invested ~$150K+ in space-specific improvements.
- In-place cap ~4.1% with stabilized yield potential ~6.0%–7.5%+.
Executive Summary
Stable income with clear, time-driven NOI expansion in an infill submarket with limited supply and high tenant stickiness.
Two-building industrial asset totaling ~11,171 SF across two parcels in SoDo (South Downtown Orlando), configured for both customer-facing taproom operations and rear production/warehouse capacity. Zoned ORL-AC-2/SP allowing continued brewery/taproom use as well as other adaptive industrial retail and light industrial uses in a supply-constrained infill submarket with limited comparable inventory.
100% leased to a single operator since 2019. Tenant has invested approximately $150,000+ in permanent improvements including brewing infrastructure and an industrial walk-in freezer, creating high location dependence and a strong incentive to renew. Current rent of $12,000/month ($144,000/year) is below market for brewery-capable industrial retail in SoDo, positioning the asset with embedded rent growth at renewal without requiring vacancy, turnover, or repositioning.
Landlord responsibilities are limited to property taxes (~$20,330/yr) and building insurance (~$1,500/yr). Tenant pays utilities and carries commercial liability insurance. Roofs and HVAC systems were replaced within the past year, minimizing near-term capital expenditure exposure.
Based on SoDo submarket lease rates in the $18–$22/SF range for similar industrial/taproom configurations, a renewal structured at market supports a stabilized yield in the ~6.0%–7.5%+ range, compared to the ~4.1% in-place cap rate.
Two-building industrial asset totaling ~11,171 SF across two parcels in SoDo (South Downtown Orlando), configured for both customer-facing taproom operations and rear production/warehouse capacity. Zoned ORL-AC-2/SP allowing continued brewery/taproom use as well as other adaptive industrial retail and light industrial uses in a supply-constrained infill submarket with limited comparable inventory.
100% leased to a single operator since 2019. Tenant has invested approximately $150,000+ in permanent improvements including brewing infrastructure and an industrial walk-in freezer, creating high location dependence and a strong incentive to renew. Current rent of $12,000/month ($144,000/year) is below market for brewery-capable industrial retail in SoDo, positioning the asset with embedded rent growth at renewal without requiring vacancy, turnover, or repositioning.
Landlord responsibilities are limited to property taxes (~$20,330/yr) and building insurance (~$1,500/yr). Tenant pays utilities and carries commercial liability insurance. Roofs and HVAC systems were replaced within the past year, minimizing near-term capital expenditure exposure.
Based on SoDo submarket lease rates in the $18–$22/SF range for similar industrial/taproom configurations, a renewal structured at market supports a stabilized yield in the ~6.0%–7.5%+ range, compared to the ~4.1% in-place cap rate.
Property Facts
Amenities
- Storage Space
- Air Conditioning
- Smoke Detector
- Breakroom
Utilities
- Lighting
- Water
- Sewer
- Heating
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
- Rockpit Brewing
- Accommodation and Food Services
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| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
| Rockpit Brewing | Accommodation and Food Services | - | - | Lorem Ipsum | Jan 0000 |
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Walk Score®
Very Walkable (79)
Bike Score®
Very Bikeable (74)
Property Taxes
| Parcel Numbers | Improvements Assessment | $0 | |
| Land Assessment | $0 | Total Assessment | $1,024,521 |
Property Taxes
Parcel Numbers
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$1,024,521
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Young and Younger
10-14 W Illiana St
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