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Freddie Crespo Investors Real Estate

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Listing 3 out of 28
$469,900 For Sale

2921 S Orlando Drive #138, #1
Sanford, FL 32773


4,500 sq ft;
lot: 4356 sq ft
Commercial: Retail - MLS# O5717845
Property Photo
1/6

Description

Spectacular Opportunity! 10%+ Cap Rate. Buy these 2 units or buy all 8 units for sale. These 2 units must be sold together. Pipe Dreams has been in the plaza since 1998 their lease runs through 8-31-25.They will sign a longer lease if needed. Sanford Plaza centrally located & close to everything. It is anchored by Bravo Foods DCF (DCF subcontractor-CBC) & Citi Trends. CBC generates traffic from thousands of family-oriented customers weekly as it is the largest family services in central Florida servicing 3 counties. Pipe Dreams & the Beauty Salon have been in the plaza since it was remodeled around 1997. The Ambassador Church has been there for over 10 years. They also had a contract to purchase the building for 1 million plus. Most tenants would like a longer lease but the rents are low & will increase so we will only negotiate longer leases if a buyer has a contract subject to said longer leases. The only expenses not covered by the condo association dues which have been consistent at $1.15 per square foot for years with well over a $100000 reserve are the roof & HVAC. The leases typically require the tenants to cover the majority of the HVAC expenses.The entire plaza is approx 155000 Sqft located on 14 +/- acres. The Sanford Plaza has good traffic & great visibility to the Greenway (417). The roof is mostly foam covered with small river rock which protects from UV rays & adds a tremendous amount of insulation with high ceilings. Unit 180 240 & 250 have a sprinkler system.

Features

  • Property Type: Commercial
  • Sub Type: Retail
  • Listing Status: Active
  • County/Area: Seminole County
  • Zip Code: 32773
  • Year Built: 1965
  • Sq.Ft.: 4,500 sq ft
  • Lot Size: 4356 sq ft
  • Zoning: GC2
  • Building Area Source: Public Records
  • Building Area Total: 4500.00
  • Complex Community Name NCCB: SANFORD PLAZA
  • Complex Development Name: SANFORD PLAZA
  • Construction Materials: Stucco
  • Cooling: Central Air
  • Country: US
  • Leasable Area: 4500
  • Lot Size Square Feet: 4500
  • Net Operating Income: 47044
  • Number Of Lots: 2
  • Office Retail Space Sq Ft: 4500
  • Parcel Number: 01-20-30-509-0000-1380
  • Road Frontage Type: City Street
  • Tax Year: 2017
  • Total Acreage: Non-Applicable
  • Total Num Buildings: 1
  • Township: 20
Courtesy of Investor's Real Estate Llc

FREDDIE CRESPO
Broker/Owner

2910 W Lake Mary Blvd #201
Lake Mary, FL 32746
Phone: 407-688-4355
Email: info@notjustahome.com

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