Park Drive Business Center
Multi-Unit Fully Occupied Retail Center
Marketing description
# Location Summary: 2563 Park Dr, Sanford, FL 32773
## Overview
The subject property is strategically located in Sanford, Florida, a vibrant city in Seminole County, part of the Orlando–Kissimmee–Sanford Metropolitan Statistical Area. Sanford has been experiencing steady growth, making it an attractive location for commercial real estate investments.
## Accessibility
- Conveniently situated near major thoroughfares:
- Approximately 3 miles from I-4, providing easy access to Orlando and Daytona Beach
- Close proximity to SR 417 (Central Florida GreeneWay), facilitating connections to the wider Orlando metro area
- Orlando Sanford International Airport is within a 15-minute drive, enhancing the area's appeal for businesses and residents
## Demographics
- Sanford population: Approximately 60,000 (as of latest estimates)
- Seminole County population: Over 470,000
- Median household income in Sanford: $50,000 - $60,000 (verify current data)
- Projected population growth rate: Above state average
## Local Economy
- Diverse economic base including healthcare, retail, and technology sectors
- Major employers in the area include:
- Orlando Sanford International Airport
- Central Florida Regional Hospital
- Seminole State College of Florida
## Nearby Amenities
- Retail: Seminole Towne Center mall within 5 miles
- Education: Multiple public and private schools in close proximity
- Recreation:
- Lake Monroe Waterfront & RiverWalk
- Central Florida Zoo & Botanical Gardens (within 10 miles)
## Development and Growth
- Sanford is experiencing ongoing development, particularly in its historic downtown area
- The city has been focusing on attracting new businesses and promoting economic growth
- Recent and planned infrastructure improvements enhance the area's appeal
## Market Outlook
- Sanford's real estate market has shown resilience and growth
- Commercial properties in the area have been experiencing steady demand
- The city's proximity to Orlando and its more affordable real estate options make it attractive for businesses looking to expand or relocate
This location offers a blend of small-town charm with the advantages of being part of a major metropolitan area. Its strategic position, coupled with Sanford's growth initiatives, presents a promising environment for commercial real estate investments.
*Note: Specific demographic and economic data should be verified with the latest available information from official sources.*
Investment highlights
## Key Highlights:
- **Strong Current Performance**: Generating an attractive 7.70%+ cap rate at the asking price
- **Value-Add Opportunity**: Leases approaching term end within a year, presenting the perfect timing for rental rate adjustments
- **Below-Market Rents**: Current tenants secured at below-market rates, setting the stage for immediate value enhancement
- **Prime Location**: Situated in the growing Sanford market, benefiting from increasing consumer activity and population growth
- **Diverse Tenant Mix**: Variety of established businesses ensuring steady cash flow and reduced risk
- **Upside Potential**: Excellent opportunity to increase NOI through strategic leasing and property improvements
This retail center represents a rare find in today's market - a stabilized asset with clear pathways to value appreciation. The current below-market rents provide an immediate opportunity to boost returns as leases roll over within the next year.
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