Miller's Ale House | 40220 US-27
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Miller's Ale House 40220 US-27
7,200 SF 100% Leased Retail Building Davenport, FL 33837 $6,363,000 ($884/SF) 5.50% Cap Rate
Investment Highlights
- ADJACENT TO REGIONAL HOSPITAL
- HIGH GROWTH FLORIDA MARKET
- NEARBY DISNEY PARKS & HUNDREDS OF NEW APARTMENTS
Executive Summary
STRONG LEASE FUNDAMENTALS
- New 15 year Abs. NNN Ground Lease
- 2% annual increases
- Four (4) renewal options of five (5) years each
- No Landlord Responsibilities
NEARBY DISNEY PARKS & HUNDREDS OF NEW APARTMENTS
- Over 200 apartment units have delivered in the past year with another 360 under construction
- Less than 20 miles away from Disney World, which averages over 58 million annual visitors
STRONG TRAFFIC AND ACCESSIBILITY
- Located on the soft corner of a high trafficked intersection of US Hwy 27 (74k VPD) and Park Place Blvd and Holly Hill Fruit Rd
- Multiple points of ingress and egress on US Hwy 27 and Park Place Blvd with cross-access to other retailers
ADJACENT TO REGIONAL HOSPITAL
- Positioned next door to AdventHealth Heart of Florida
- The Heart of Florida Location has over 200 beds
- Across the AdventHealth Central Florida division, over 3.4 Million patients are served annually
NEW CONSTRUCTION
- Newly built Miller’s Ale House, building being constructed by Tenant with newest restaurant prototype
- Oversized parcel, providing downside protection if future redevelopment is ever needed
HIGH GROWTH FLORIDA MARKET
- Between 2018 and May 2023, Davenport, FL has experienced a 163 % growth from 5,328 to more than 14K people
- This strong growth period demonstrates the move from the overpopulated neighboring cities of Orlando and Tampa
- New 15 year Abs. NNN Ground Lease
- 2% annual increases
- Four (4) renewal options of five (5) years each
- No Landlord Responsibilities
NEARBY DISNEY PARKS & HUNDREDS OF NEW APARTMENTS
- Over 200 apartment units have delivered in the past year with another 360 under construction
- Less than 20 miles away from Disney World, which averages over 58 million annual visitors
STRONG TRAFFIC AND ACCESSIBILITY
- Located on the soft corner of a high trafficked intersection of US Hwy 27 (74k VPD) and Park Place Blvd and Holly Hill Fruit Rd
- Multiple points of ingress and egress on US Hwy 27 and Park Place Blvd with cross-access to other retailers
ADJACENT TO REGIONAL HOSPITAL
- Positioned next door to AdventHealth Heart of Florida
- The Heart of Florida Location has over 200 beds
- Across the AdventHealth Central Florida division, over 3.4 Million patients are served annually
NEW CONSTRUCTION
- Newly built Miller’s Ale House, building being constructed by Tenant with newest restaurant prototype
- Oversized parcel, providing downside protection if future redevelopment is ever needed
HIGH GROWTH FLORIDA MARKET
- Between 2018 and May 2023, Davenport, FL has experienced a 163 % growth from 5,328 to more than 14K people
- This strong growth period demonstrates the move from the overpopulated neighboring cities of Orlando and Tampa
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
7,200 SF
Year Built
2024
Price
$6,363,000
Price Per SF
$884
Cap Rate
5.50%
NOI
$350,000
Percent Leased
100%
Building Height
1 Story
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Miller's Ale House | 40220 US-27
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