Address: 23 N Wekiwa Springs Road, Apopka, Florida, United States 32703
Type: Net-Leased Early Education Center
Cap Rate: 6.75%
Lease Type: Triple-Net (NNN)
Annual Rent: $200,000
Net Operating Income: $200,000
Lease Term Remaining: 20 Years
Rental Increases: 1.50% Annually Starting Year 2
Options: Four (4), Five (5)-Year Options
Rentable Sq/Ft: 8,061 SF
Rent Sq/Ft: $24.81
Price Sq/Ft: $368
Lot Size: +/- 1.87
Marcus & Millichap is pleased to present the exclusive listing for Anchor Academy located at 23 N Wekiwa Springs Rd, Apopka, FL. The property consists of 8,061 square feet of building space and is situated on roughly 1.87 acres of land. The tenant is subject to a 20-year absolute triple net (NNN) lease at the close of escrow. The base rent will be $200,000 and will increase by 1.50%percent annually starting in year two and continuing throughout the base term and into each of the four (4), five (5)-year tenant renewal option periods.
Anchor Academy Preschool is located at 23 N Wekiwa Springs Road in Apopka, FL. Apopka is a city in Orange County, FL and is part of the Orlando-Kissimmee-Sanford MSA.
SURROUNDING RETAIL & POINTS OF INTEREST The subject property is strategically positioned in a residential neighborhood in close proximity to several major retail and restaurant tenants, shopping centers, and residential development. Major retail tenants in the area include: CVS Pharmacy, Hobby Lobby, Bed Bath & Beyond, Aaron’s, Ross Dress for Less, Petco, Marshalls, Regions, Chase Bank, Chipotle, Chili’s Grill & Bar, Marcos Pizza, Fuddruckers, as well as several others. A recently developed Walmart Neighborhood market also sits also less than a mile east on Semoran Blvd, anchoring another major retail artery for the area.
TRAFFIC COUNTS & DEMOGRAPHICS
The subject property has approximately 70,716 individuals residing within a three-mile radius and 171,572 individuals within a five-mile radius of the property. This Otter Learning property benefits from being situated in an affluent suburban community, as the average household income within a one-mile radius exceeds $80,000. The subject property is situated on Wekiwa Springs Road which boasts average daily traffic counts exceeding 19,518 vehicles. Wekiwa Springs Road intersects with Semoran Blvd which brings an additional 48,664 vehicles into the immediate area daily.
Apopka is a city in Orange County located just under 15 miles from Orlando, FL. Orlando is the county seat of Orange County and the center of the Orlando metropolitan area. As of 2018, Orlando had an estimated city-proper population of 285,713, making it the 71st-largest city in the United States, the fourth-largest in Florida, and the states largest inland city. Orlando is one of the world’s most visited tourist destinations, with a record 75 million visitors in 2018. The two most significant tourist attractions include Walt Disney World and Universal Orlando Resort. Walt Disney World is the area’s largest attraction with its many facets such as the Magic Kingdom, Epcot, Disney’s Hollywood Studios, Disney’s Animal Kingdom, Typhoon Lagoon, Blizzard Beach and Disney Springs. There are also many more tourist attractions located along International Drive, with one of these being the famous Orlando Eye. The city is also one of the busiest American cities for conferences and conventions, containing the Orange County Convention Center, the second-largest convention facility in the United States. According to a 2009 Pew Research Center study, Orlando ranks as the fourth-most popular American city based on where people want to live.
Broker of Record: Ryan Nee License #BK3154667