Address: 6601 Old Cheney Hwy, Orlando, Florida, United States 32807
Type: Net Leased Auto Service
Cap Rate: 6.75%
Lease Type: Triple Net (NNN)
Annual Rent: $125,000
Net Operating Income: $125,000
Lease Term Remaining: 17 + Years
Rental Increases: 1.40% Annually
Options: One (1), Five (5) Year Option
Year Built: 1988 / 2006
Rentable Sq/Ft: 6,820 SF
Rent Sq/Ft: $18.33
Price Sq/Ft: $272
Lot Size: +/- 0.55
Marcus & Millichap is pleased to present the exclusive listing for a Maaco Collision Repair and Auto Paining located at 6602 Old Cheney Highway in Orlando, FL. The site consists of roughly 6,820 rentable square feet of building space on estimated .55-acre parcel of land. This Maaco is subject to a 20-year absolute triple-net (NNN) lease, which commenced July 21st, 2017. The current annual rent is $125,000 and is scheduled to increase by 1.40% annually throughout the base term and in the one (1), five (5)-year renewal options.
This Maaco Collision Repair and Auto Painting property is situated on Old Cheney Highway, which runs parallel to E Colonial Drive. E Colonial Drive is intersected by N Semoran Blvd, which boast average daily traffic counts of 52,700 and 52,000 vehicles, respectively. The subject property is located in an extremely densely populated area. There are approximately 110,100 individuals residing within a three-mile radius of the property and nearly 304,000 individuals within a five-mile radius.
The subject property benefits from being well-positioned in a dense urban infill consisting of national and local tenants, auto repair and sales shops, hospitals, and academic institutions all within close proximity of this property. Major national tenants include: Sam’s Club, Home Depot, O’Reilly Auto Parts, CVS Pharmacy, AutoZone, Dollar Tree, McDonald’s, Dunkin’ Donuts, Subway, and many more. This subject property benefits from being located approximately three miles from AdventHealth East, a 225-bed medical facility. Additionally, this Maaco property benefits from its close proximity to several academic institutions. Most notable is Barry University, which is located less than one miles from the subject property and boasts a total enrollment exceeding 9,000 students.
Orlando, the fourth-largest city in Florida, is known as “The Theme Park Capital of the World” and includes SeaWorld Orlando, Walt Disney World, Universal Studios Florida, Fun Spot America Orlando, and more. In 2016, its tourist attractions and events drew more than 68 million visitors. With the exception of Walt Disney World, most major attractions are located along International Drive. Orlando is also home to the University of Central Florida, which is the largest university campus in Florida and the second-largest in the United States in terms of enrollment. In 2017, the Orlando International Airport handled 44,611,265 passengers making it the busiest airport in the state of Florida and the 11th-busiest airport in the United States. Orlando is a major industrial and hi-tech center and is nationally recognized as a cluster of innovation in digital media, agricultural technology, aviation, aerospace and software design. More than 150 international companies have facilities in Metro Orlando.
Broker of Record: Ryan Nee License #BK3154667