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Wendy's - Publix Outparcel | New 20-yr NNN GL 4604 Zanzibar Way 2,228 SF Retail Building Sanford, FL 32773 $2,444,444 ($1,097.15/SF) 4.50% Cap Rate
Investment Highlights
- Brand-New Construction | Publix-Anchored Center Outparcel
- High-Growth Immediate Area | Massive Increase in Commercial & Multi-Family Development w/ more than 1,186±New Homes underway within 5-mile Radius
- Corporate-Guaranteed ‘NNN’ Ground Lease | Tenant to Pay and Maintain All Aspects of the Property – No Landlord Obligations
- Conveniently Situated on Right-hand side of Roadway Exposing Subject to Commuter Traffic
- Close Proximity to Orlando-Sanford International Airport | Handled over 3± million Total Passengers (2025)
- Attractive 8.00% Rental Increases Every 5 Years including Options
Executive Summary
CBRE is pleased to present the exclusive listing for the Wendy’s located at 4064 Zanzibar Way in Sanford, Florida. The property includes a 2,228 square foot building situated on 0.95± acres. It will be subject to a new 20 year ground lease featuring three (3) additional five year renewal options. The initial annual base rent will be $110,000, beginning in Year 1. The lease provides for 8% rental escalations every five years throughout both the base term and the renewal option periods.
The subject property is strategically situated as an outparcel in Queen’s Crossing, a brand-new Publix-anchored shopping center benefiting from traffic generated by the diverse tenant mix. Subject also benefits from its direct frontage to E Lake Mary BLVD (23,000±AADT) and close proximity to SR-46 (27,000±AADT) and the Orlando-Sanford International Airport located 4±miles from Subject, which handled more than 3±million passengers in 2025.
The subject property is strategically situated as an outparcel in Queen’s Crossing, a brand-new Publix-anchored shopping center benefiting from traffic generated by the diverse tenant mix. Subject also benefits from its direct frontage to E Lake Mary BLVD (23,000±AADT) and close proximity to SR-46 (27,000±AADT) and the Orlando-Sanford International Airport located 4±miles from Subject, which handled more than 3±million passengers in 2025.
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Property Facts
Sale Type
Investment NNN
Sale Condition
Ground Lease (Leased Fee)
Property Type
Retail
Property Subtype
Building Size
2,228 SF
Building Class
B
Year Built
2026
Construction Status
Under Construction
Price
$2,444,444
Price Per SF
$1,097.15
Cap Rate
4.50%
NOI
$110,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.05
Lot Size
0.95 AC
Zoning
A1 - Agricultural/Residential
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
- Wendy's
- Accommodation and Food Services
- -
- -
- -
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
| Wendy's | Accommodation and Food Services | - | - | - |
Somewhat walkable
20/100
Exceptionally drivable
100/100
Limited public transit
30/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 03-20-31-300-0090-0000 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $877 |
Property Taxes
Parcel Number
03-20-31-300-0090-0000
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$877
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Wendy's - Publix Outparcel | New 20-yr NNN GL | 4604 Zanzibar Way
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