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Walmart - Neighborhood Market & Gas 820 Balmy Beach Dr 44,390 SF Retail Building Apopka, FL 32703 $8,762,886 ($197.41/SF) 4.85% Cap Rate
Investment Highlights
- Long-Term Ground-Lease Situated on a Hard-Corner Lighted Intersection amidst the dense retail corridor of Apopka. (Orlando MSA)
- Dense Traffic Counts in the immediate area as a result of the main State Road 436 throughfare.
- Name-Brand Recognition with WAL-MART. (S&P: AA Investment Grade Credit Rating)
- Strategically positioned asset with immediate access to multiple residential developments and heavy density demographic corridors.
- Big Box Retail and Gas-Combination provides for immediate self-driven market driver for consumers in the immediate market.
- #1 Retailer in the WORLD with 2.2M +/- registered employees.
Executive Summary
CBRE is pleased to present the exclusive listing for the Walmart Neighborhood Market & Gas located at 820 Balmy Beach Drive & 806 Balmy Beach Drive, in Apopka, FL. The site consists of 44,390 total square feet of building space and sits on 6.30 acres of land. The current base rent is $425,000. The lease will call for 5% rental escalations throughout the sixteen (16) five-year renewal options. There are presently 12.3 years of term remaining on the initial lease.
The subject property benefits from being in a strong retail corridor surrounded by national and local tenants, shopping centers and hospitality accommodations. Located on a hard-corner lighted intersection, the subject property is surrounded with the following major tenants in the immediate area; Publix, Hobby Lobby, Burger King, Dollar Tree, Bealls, Ross, Marshalls, as well as many more.
The subject property benefits from being in a strong retail corridor surrounded by national and local tenants, shopping centers and hospitality accommodations. Located on a hard-corner lighted intersection, the subject property is surrounded with the following major tenants in the immediate area; Publix, Hobby Lobby, Burger King, Dollar Tree, Bealls, Ross, Marshalls, as well as many more.
Property Facts
Sale Type
Investment NNN
Sale Condition
Ground Lease (Leased Fee)
Property Type
Building Size
44,390 SF
Building Class
B
Year Built
2020
Price
$8,762,886
Price Per SF
$197.41
Cap Rate
4.85%
NOI
$425,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.16
Lot Size
6.30 AC
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Retailer
- -
- -
- Triple Net
- Apr 2037
Neighborhood Markets offer a convenient shopping experience for customers who need groceries, pharmaceuticals and general merchandise. Generally, they are located in markets with Wal-Mart Supercenters, supplementing a strong food distribution network and providing added convenience while maintaining Wal-Mart’s Every Day Low Prices. First opened in 1998 Neighborhood Markets, averaging 42,000 square feet, feature a wide variety of products, including fresh produce, deli foods, fresh meat and dairy items, health and beauty aids, one-hour photo and traditional photo developing services, drive-through pharmacies, stationery and paper goods, pet supplies, and household chemicals.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Retailer | - | - | Triple Net | Apr 2037 |
Fairly walkable
50/100
Very drivable
80/100
Limited public transit
30/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 07-21-29-524-0000-0010 | Improvements Assessment | $4,476,932 |
| Land Assessment | $2,311,803 | Total Assessment | $6,788,735 |
Property Taxes
Parcel Number
07-21-29-524-0000-0010
Land Assessment
$2,311,803
Improvements Assessment
$4,476,932
Total Assessment
$6,788,735
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