904 W Colonial Dr

The site is well located along busy SR 50/Colonial Dr, with 100 linear foot +/- of frontage, very close to I-4. The estimated maximum developable Building SF for the site is 3,000 SF +/-. The asset enjoys a right and left in middle turn lane fronting the property, along Colonial Dr. Traffic travelling either east or west bound enjoy the benefit of this middle turn lane to make access to the site convenient for either directions of traffic. Over 36,000 vehicles per day travel by the site, with one mile radius average annual household incomes at over $87,000 (3/$88,444; 5/$76,973), and population density of nearly 300,000 people within a 5 mile radius - the combination for which make for solid economic opportunities for those occupying the site. A short distance (3/10 mile by road) away is Creative Village, a $1.5 Billion development boasting mixed used educational, residential, and work environments. Creative Village builds upon the success of Orlando’s digital media industry by transforming the former Amway Arena site into a 68-acre mixed-use, transit oriented, urban infill neighborhood in the heart of Downtown Orlando. The vision for Creative Village focuses on developing a true “live, work, learn and play” urban innovation district that supports a synergistic and dynamic mix of uses including higher education, PS-8 education, mixed-income residential, student housing, office space/creative studios, retail/commercial, hotel and parks/open space. Leading higher education providers; high-tech, digital media and creative companies; and a diverse mix of students, employees and residents will call Creative Village home. The UCF/Valencia Downtown Campus, including the UnionWest student housing project, opened at Creative Village in August 2019 with more than 8,000 students/faculty/staff. Downtown Orlando's "West Side" (West side of I-4; the geography of our site) is poised for dynamic growth. Currently the Amway Center (home of the Orlando Magic), Exploria Stadium (Major League Soccer's, Orlando City SC professional soccer team), and Camping World Stadium (the former Citrus Bowl, reknown for its hosting of end of season College Football Bowl game activities, as well as large entertainment events, etc) - in combination with the Creative Village development - come together as a powerful momentum catalyst to promote continued and further expansion and redevelopment of this important and fertile geographic section for the city. The seller is offering the site as follows: shall deliver a build to suit development for a credit worthy tenant with a rental rate of $43.99 PSF NNN (3,000 SF building +/-). Construct, build and deliver an end use concept to an owner user for the following purchase price: $2,199,500 (with a CAP construction cost of $1,015,000). The Seller would also transfer the land "As Is" to a buyer for $1,184,500.