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Heartland Dental 1200 E Irlo Bronson Memorial Hwy 3,833 SF Retail Building Saint Cloud, FL 34771 $2,924,000 ($762.85/SF) 5.85% Cap Rate
INVESTMENT HIGHLIGHTS
- Corporate net lease featuring 10% rental increases every 5 years
- Premier retail fundamentals – hard corner signalized intersection with 45,000+ vehicles per day in a dense, high income area
- Large 1.14 acre lot
- Lease signed by tenant’s corporate entity – Heartland Dental, LLC
- Tenant pays all common area maintenance directly
- 201,894 residents within a 10-mile radius of the subject property
EXECUTIVE SUMMARY
A corporate Heartland Dental lease featuring 10% rental increases every 5 years and four, 5-year extension options with the same increases. The subject property benefits from the sprawling residential population of St. Cloud due to recent developments such Hanover Lakes by Landsea Homes, a 409-home development strategically located for its proximity to Walt Disney World, Universal Studios, and SeaWorld.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
3,833 SF
Building Class
B
Year Built
2005
Price
$2,924,000
Price Per SF
$762.85
Cap Rate
5.85%
NOI
$171,054
Tenancy
Single
Building Height
1 Story
Building FAR
0.08
Lot Size
1.14 AC
Zoning
SI3
Parking
21 Spaces (5.2 Spaces per 1,000 SF Leased)
Frontage
29’ on East Irlo Bronson Memoria
TRAFFIC
| COLLECTION STREET | CROSS STREET | TRAFFIC VOLUME | YEAR | Distance |
|---|---|---|---|---|
| East Irlo Bronson Memorial Highway | Old Hickory Tree, W | 29,919 | 2022 | 0.05 mi |
| East Irlo Bronson Memorial Highway | Murcott Dr, E | 30,098 | 2020 | 0.12 mi |
| E Irlo Bronson Memorial Hwy | Murcott Dr, E | 27,597 | 2022 | 0.12 mi |
| E 10th St | Old Hickory Tree Rd, W | 2,511 | 2022 | 0.29 mi |
| E Irlo Bronson Memorial Hwy | Murcott Dr, W | 25,796 | 2022 | 0.34 mi |
| E 10th St | Kelly St, E | 2,463 | 2022 | 0.34 mi |
| E 13th St | Orange Ave, W | 27,487 | 2022 | 0.47 mi |
| E 10th St | Rosedale Ave, W | 2,482 | 2022 | 0.48 mi |
| Old Hickory Tree Rd | Jan Lan Blvd, S | 3,258 | 2022 | 0.53 mi |
| Orange Ave | E 13th St, S | 1,681 | 2022 | 0.54 mi |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 07-26-31-0605-0001-0015 | Improvements Assessment | $554,800 |
| Land Assessment | $804,100 | Total Assessment | $1,358,900 |
PROPERTY TAXES
Parcel Number
07-26-31-0605-0001-0015
Land Assessment
$804,100
Improvements Assessment
$554,800
Total Assessment
$1,358,900
MAP
ADDITIONAL PHOTOS
Primary Photo