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Griffin Farm at Midtown 211-245 Wheelhouse Ln 125,131 SF 100% Leased 4-Star Retail Building Lake Mary, FL 32746 For Sale



INVESTMENT HIGHLIGHTS
- Griffin Farm at Midtown is a 98.7% occupied shopping center comprised of 32 tenants across 125,131 SF of retail space
- The asset is located on the southwest corner of the signalized intersection of Longwood Lake Mary Rd and W Lake Mary Blvd in Lake Mary, FL
- 65,739 population within a 3-mile radius
- The property was constructed in multiple phases in 2018 and 2019, reducing the likelihood of capital repairs or expenses necessary
- Positioned 1.5 miles east of I-4, Griffin Farm at Midtown is centrally located in the Lake Mary community, attracting a strong local consumer base
- $126,698 average household income within a 3-mile radius
EXECUTIVE SUMMARY
RIPCO Real Estate is pleased to offer for sale Griffin Farm at Midtown, a 125,131 SF commercial property located on the southwest corner of the signalized intersection of Longwood Lake Mary Rd and W Lake Mary Blvd in Lake Mary, FL. The property is 98.7% occupied, with a diverse mix of tenants, including major national retailers, restaurants, and entertainment venues. Griffin Farm is surrounded by luxury apartments, master-planned townhome communities, and mixed-use developments. Positioned 1.5 miles east of I-4, Griffin Farm at Midtown is centrally located in the Lake Mary community, drawing both local consumers and tourists alike. This intersection of Longwood Lake Mary Rd and W Lake Mary Blvd where the property is located has a combined AADT of 40,000. Within 3 miles of Griffin Farm at Midtown, there is a population of 65,739 and an average household income of $126,698.
The asset would be an attractive investment opportunity for investors looking for a luxury shopping center, positioned in the heart of an affluent submarket in Lake Mary, FL, occupied by a diverse tenant mix with a weighted average lease term (WALT) of 6.39 years, and located just 1.5 miles east of I-4, the major tourism interstate in Florida, connecting Tampa, Orlando, Lakeland, and Daytona Beach.
The asset would be an attractive investment opportunity for investors looking for a luxury shopping center, positioned in the heart of an affluent submarket in Lake Mary, FL, occupied by a diverse tenant mix with a weighted average lease term (WALT) of 6.39 years, and located just 1.5 miles east of I-4, the major tourism interstate in Florida, connecting Tampa, Orlando, Lakeland, and Daytona Beach.
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PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Building Size
125,131 SF
Building Class
B
LoopNet Rating
4 Star
Year Built
2019
NOI
$3,135,144
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.41
Lot Size
6.95 AC
Zoning
PUD - PUD - Planned Unit Development (Seminole County)
Parking
197 Spaces (1.57 Spaces per 1,000 SF Leased)
Frontage
274’ on Wheelhouse Lane
AMENITIES
- Signage
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 17-20-30-513-0000-0010 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $16,307,755 |
PROPERTY TAXES
Parcel Number
17-20-30-513-0000-0010
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$16,307,755
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Griffin Farm at Midtown | 211-245 Wheelhouse Ln
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