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4243 US-92 - 2nd Mile Education (Elevation High School) 12,380 SF Specialty Building Offered at $2,529,000 at a 7% Cap Rate in Sanford, FL 32773
Investment Highlights
- 9+ Years Remaining on Primary Lease Term
- The Tenant Recently Renewed Its Charter Contract With Seminole County Public Schools Through 6/30/2031
- New Roof Installed in 2022
- 10% Rental Increases Every 5 Years With Multiple Renewal Options
- Corporate Guaranty by Second Mile Education
- All AC Units Have Recently Been Replaced
Executive Summary
Second Mile Education is a leading provider of Dropout Prevention and Recovery Programming (DPRP), they have a commitment to operating outside of the conventional academic model and going above and beyond in their investment in the success of each student. Second Mile Education operates 27 charter schools across 12 counties with an educational model built on three pillars of being flexible, personalized, and supportive.
Sanford, Florida, is the historic county seat of Seminole County, located on the southern shore of Lake Monroe about 20 miles northeast of Orlando and is home to approximately 66,000 residents. Sanford is home to Seminole State College of Florida and the Central Florida Zoo and Botanical Gardens.
Sanford, Florida, is the historic county seat of Seminole County, located on the southern shore of Lake Monroe about 20 miles northeast of Orlando and is home to approximately 66,000 residents. Sanford is home to Seminole State College of Florida and the Central Florida Zoo and Botanical Gardens.
Property Facts
| Price | $2,529,000 | Building Class | B |
| Price Per SF | $204.28 | Lot Size | 1.93 AC |
| Sale Type | Investment | Building Size | 12,380 SF |
| Cap Rate | 7% | No. Stories | 1 |
| Property Type | Specialty | Year Built/Renovated | 2008/2021 |
| Property Subtype | School | ||
| Zoning | Commercial - Commercial | ||
| Price | $2,529,000 |
| Price Per SF | $204.28 |
| Sale Type | Investment |
| Cap Rate | 7% |
| Property Type | Specialty |
| Property Subtype | School |
| Building Class | B |
| Lot Size | 1.93 AC |
| Building Size | 12,380 SF |
| No. Stories | 1 |
| Year Built/Renovated | 2008/2021 |
| Zoning | Commercial - Commercial |
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Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 22-20-30-519-0000-0010 | Improvements Assessment | $1,106,071 |
| Land Assessment | $1,146,602 | Total Assessment | $2,252,673 |
Property Taxes
Parcel Number
22-20-30-519-0000-0010
Land Assessment
$1,146,602
Improvements Assessment
$1,106,071
Total Assessment
$2,252,673
Contacts
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Spencer Berkley -
Mark Ruble -
Christopher Lind -
Zack House -
Ryan Nee -
Marcus & Millichap
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