Mills Avenue Retail Strip | 926 N Mills Ave
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Mills Avenue Retail Strip 926 N Mills Ave
4,800 SF Retail Building Orlando, FL 32803 £2,544,934 (£530/SF) 6.02% Net Initial Yield
INVESTMENT HIGHLIGHTS
- One of the few strip centers available on Mills 50, the most popular neighborhood corridor in Orlando.
- Death In The Afternoon, one of the busiest cocktail bars in the city, has been a long-term tenant with several years remaining on its lease.
- The property includes dedicated parking at the back of the building, along with open street parking along Mills Avenue.
- Smoker’s Safari’s lease ends in six months, offering an owner-operator the chance to occupy the property they own.
- Recent property sales along Mills Avenue have closed at nearly $1,000 per square foot, demonstrating consistent and strong demand for the area
EXECUTIVE SUMMARY
Tony Nguyen, CCIM with The TRG Group, is proud to present a rare opportunity to own one of the few multi-tenant strip centers along Orlando’s highly sought-after Mills 50 corridor. Positioned in the heart of one of the city's most popular retail and dining districts, this property is fully set to generate income at closing, with all units occupied or under a Letter of Intent for long-term leases. Smoker’s Safari’s lease expiration in six months offers an option for an owner-operator to occupy a unit with SBA financing available at just 10% down, while investors may explore lease renewal with the existing tenant. Anchored by prominent tenants such as "Death In The Afternoon," a high-traffic cocktail bar with a long-term lease, the property draws steady foot traffic and activity.
Recent comparable sales along Mills Avenue nearing $1,000 per square foot highlight the ongoing demand for real estate in this corridor. The property features dedicated parking at the rear as well as street parking, and the small unit sizes enhance future leasing flexibility. Surrounded by strong demographics with a population over 14,000 and average household incomes above $110,000 within a one-mile radius, this property is positioned as a sound investment within one of Orlando’s thriving commercial markets.
Recent comparable sales along Mills Avenue nearing $1,000 per square foot highlight the ongoing demand for real estate in this corridor. The property features dedicated parking at the rear as well as street parking, and the small unit sizes enhance future leasing flexibility. Surrounded by strong demographics with a population over 14,000 and average household incomes above $110,000 within a one-mile radius, this property is positioned as a sound investment within one of Orlando’s thriving commercial markets.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
4,800 SF
Building Class
C
Year Built
1951
Price
£2,544,934
Price Per SF
£530
Net Initial Yield
6.02%
NOI
£153,172
Tenancy
Multiple
Number of Floors
1
Building FAR
0.76
Lot Size
0.14 AC
Zoning
MU-1/T
Parking
2 Spaces (0.42 Spaces per 1,000 SF Leased)
Frontage
77 ft on Mills Ave
AMENITIES
- Bus Route
Walk Score®
Walker's Paradise (94)
Bike Score®
Very Bikeable (89)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 24-2229-4468-09-230 | Improvements Assessment | £470,344 |
| Land Assessment | £212,539 | Total Assessment | £682,883 |
PROPERTY TAXES
Parcel Number
24-2229-4468-09-230
Land Assessment
£212,539
Improvements Assessment
£470,344
Total Assessment
£682,883
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Mills Avenue Retail Strip | 926 N Mills Ave
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