5300 Silver Star Rd
Orlando, FL 32808
Retail Property For Sale

Vanwald and Associates presents the unique opportunity to acquire Units 3, 4, 5 and 6, as well as Unit 2 of Unit 2 of the Silver Star Shopping Center. The asset is located in The Theme Park Capital of the World, Orlando, Florida. The offering consists of approximately 145,000 square feet of leasable space situated at the corner of Silver Star Road and Pine Hills Road in West Orlando. The Center is currently 61% occupied, with initial lease terms ranging from four (4) to fifteen (15) years in length. With no leases closer to term, an investor can benefit from a stable and seasoned NOI while filling up the current vacancy. The leases are NNN type leases, with all tenants paying Base Rent and Additional Rent. The Additional Rent is designed to cover the operating expenses of the center by passing the expenses to the Tenant. This structure protects the net income against raising costs and unexpected overhead. The leases allow the Landlord to relocate tenants in the center, or to terminate their leases with prior notice. Value-Add The value in the purchase can be multi-directional. Significant upside potential from filling up the current vacancy, with the possibility of considerably raising the current NOI of $468,500 (+/-). An equity up-shoot opportunity may also result from increasing the current under market rents. Land Condo Docs in Place The center has already been divided into a land condominium, with the units already separated for individual sale. Each unit can easily be divided into further Units if desired. High Traffic Area - 79,000 VPD The center is strategically placed at the signalized corner of Silver Star RD and Pine Hills RD. With the FDOT counting 79,000 vehicles driving through the intersection daily, (40,000 VPD on Silver Star RD and 39,000 on Pine Hills RD) the center should continue to attract a wide array of tenants, from National Retailers to GSA Tenants, and more. New Roofs And Improvements The roofs have been replaced completely in 2016 (a capital improvement of over $600,000), along with the majority of the HVAC units. All buildings have been painted and the parking are has been re-paved and re-striped in the first half of 2017.