First Watch, Shoppes at Altamonte | 720 E Altamonte Dr
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First Watch, Shoppes at Altamonte 720 E Altamonte Dr
3,900 SF Retail Building Altamonte Springs, FL 32701 £3,462,501 (£888/SF) 5.25% Net Initial Yield
Investment Highlights
- • Located in a super-regional trade area in proximity to Interstate 4 and US 17-92
- • Fixed rent increases at 10% every 5 years including options
- • High visibility site with over 75,000 vehicles per day passing by on SR 436 and Maitland Ave
- • New corporate First Watch NNN lease
- • Part of Shoppes at Altamonte, an infill redevelopment with a stellar line up of highly sought after national retail tenants
- • Surrounded and supported by over 91,000 residents and over 82,000 daytime employees within 3 miles
Executive Summary
Properties within this portfolio are available separately - see OM for pricing and detail
CBRE’s Net Lease Property Group is pleased to present a rare opportunity to acquire a newly developed trophy single tenant portfolio in one of Central Florida’s strongest retail trade areas. Shoppes at Altamonte is an infill redevelopment project consisting of five single-tenant properties leased to Chipotle, Raising Cane’s, Panera Bread, Starbucks, and First Watch. Featuring a stellar line up of the most sought-after national brands in the country, this exceptional investment offers long-term passive income with strong fixed rent increases, supported by high-quality underlying real estate.
Shoppes at Altamonte is prominently positioned on 4.59+ acres with over 675’ of frontage along the densely developed and heavily travelled corridor of E. Altamonte Drive (State Road 436) in Altamonte Springs, just north of Orlando. Grand openings are scheduled for December 16, 2024.
CBRE’s Net Lease Property Group is pleased to present a rare opportunity to acquire a newly developed trophy single tenant portfolio in one of Central Florida’s strongest retail trade areas. Shoppes at Altamonte is an infill redevelopment project consisting of five single-tenant properties leased to Chipotle, Raising Cane’s, Panera Bread, Starbucks, and First Watch. Featuring a stellar line up of the most sought-after national brands in the country, this exceptional investment offers long-term passive income with strong fixed rent increases, supported by high-quality underlying real estate.
Shoppes at Altamonte is prominently positioned on 4.59+ acres with over 675’ of frontage along the densely developed and heavily travelled corridor of E. Altamonte Drive (State Road 436) in Altamonte Springs, just north of Orlando. Grand openings are scheduled for December 16, 2024.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
3,900 SF
Building Class
B
Year Built
2024
Price
£3,462,501
Price Per SF
£888
Net Initial Yield
5.25%
NOI
£181,781
Tenancy
Single
Number of Floors
1
MAJOR TENANTS
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease Type
- Lease End
- First Watch
- Retailer
- 3,900 SF
- £46.55
- Triple Net
- -
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease Type | Lease End | |
| First Watch | Retailer | 3,900 SF | £46.55 | Triple Net | - |
Nearby Major Retailers
-
Ray Romano -
Mark Drazek -
CBRE, Inc.
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First Watch, Shoppes at Altamonte | 720 E Altamonte Dr
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