Raising Cane's, Shoppes at Altamonte | 780 E Altamonte Dr
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Raising Cane's, Shoppes at Altamonte 780 E Altamonte Dr
3,224 SF Retail Building Altamonte Springs, FL 32701 $5,000,000 ($1,551/SF) 4% Cap Rate
Investment Highlights
- • New 15-Year NNN Lease with fixed 10% rent increases every 5 years
- • Located in a super-regional trade area in proximity to Interstate 4 and US 17-92
- • High visibility site with over 75,000 vehicles per day passing by on SR 436 and Maitland Ave
- • Raising Cane’s is projected to exceed $4.5 billion in system wide sales & achieve $6 million in AUV in 2024
- • Latest prototype store with double drive thru and patio
- • 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 details
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
Fast Food
Building Size
3,224 SF
Building Class
C
Year Built
2024
Construction Status
Under Construction
Price
$5,000,000
Price Per SF
$1,551
Cap Rate
4%
NOI
$200,000
Tenancy
Single
Building Height
1 Story
Zoning
C-G
Nearby Major Retailers
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Ray Romano -
Mark Drazek -
CBRE, Inc.
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Raising Cane's, Shoppes at Altamonte | 780 E Altamonte Dr
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