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Bent's Landing Retail Center - Building 2 438 Rinehart Rd

9,809 SF 100% Leased Retail Building Lake Mary, FL 32746 $6,086,000 ($620/SF) 5.84% Cap Rate

Investment Highlights

  • New Construction Storefront Retail Buildings | Properties Can be Purchased Together or Separately
  • Consisting of Tenants such as Jimmy John’s, Clean Eatz, Heartland Dental, & Noire Nail Lounge
  • Located Directly in Front of the New Orlando Health Multi-Specialty Medical Office Facility & Future Planned 28,000 SF Medical Office Facility
  • 10 Year NNN Leases with Annual Rent Growth | Synergistic Medical/Retail Tenant Mix
  • Immediately Adjacent to Orlando Health’s New Lake Mary Campus (250+ Beds)
  • The Subject Properties are Located within the New $800MM, 150 Acre, Lake Mary Wellness and Technology Park

Executive Summary

Lee & Associates is pleased to present the opportunity for a qualified investor to acquire Fee Simple interest (land & building) in Bent's Landing Retail Center “Subject Property”, located at 438 Rinehart Rd, in Lake Mary, FL (Orlando MSA). The Property features brand new 2023 construction with 9,809 square feet that resides on a 1.68-acre parcel (total shopping center). This building can be purchased together or separately with the neighboring building. Part of a new development that consists of two Class “A” Medical Office Buildings totaling 56,000 SF, being delivered in 2024. The Subject property is 100% leased to National tenants Heartland Dental, Jimmy Johns, and Clean Eatz and one regional tenant Noire Nail Lounge. All tenants are on new 10-year leases with a mix of 3% annual and 10% every 5-year rent increases. Bent's Landing Retail Center is located immediately adjacent to Orlando Health's new Lake Mary Campus (250+ Beds).

Property Facts

Sale Type
Investment
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Storefront
Building Size
9,809 SF
Building Class
B
Year Built
2023
Price
$6,086,000
Price Per SF
$620
Cap Rate
5.84%
NOI
$355,600
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.27
Lot Size
0.84 AC
Zoning
PUD - PUD - Medical/Office/Retail
Frontage
280 FT on Rinehart Rd

Amenities

  • Signage
  • Monument Signage

Nearby Major Retailers

Cfe Federal Credit Union
Jazzercise
Regions Bank
Truist
BankUnited
Fifth Third Bank
Publix
Chicken Salad Chick
First Citizens Bank
Starbucks
  • Listing ID: 32705915

  • Date on Market: 8/6/2024

  • Last Updated:

  • Address: 438 Rinehart Rd, Lake Mary, FL 32746

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