Downtown Orlando 5 Unit Retail Portfolio - NNN 7.5% Cap Rate
Retail Portfolio | 7.50% CAP | 13,445 Sq. Ft.
Marketing description
Purchase money or seller financing could be available. Current loan could also be assumable or taken over.
Pleased to offer a NNN retail portfolio of 101 Eola, consisting of the entire ground level (5 condo units) and associated deeded parking garage spaces located in 101 Eola, a 146 unit mix use midrise condominium in the upscale Thornton Park area of downtown Orlando.
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End cap restaurant (Unit C101 & C103) located on the northwest end of the building on the southeast corner of S Eola Drive and E Pine Street in Thornton Park. Unit C101 & 102 consists of 5,252 square feet and occupied by Rusteak Thornton Park and affiliate Broken Cage.
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C103 is an In-line retail street fronting ground level condo unit that is currently built out with office type finishes. The space has been used previously as an office and event space. Flexible 2,967 SF layout suitable for retail, professional office, wellness, or boutique restaurant use.
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C104 is an In-line retail street fronting ground level corner condo unit, which totals 2,695 SF, fully built out for a wellness day spa; Allora Day Spa, which has multiple location, this being their downtown location. Lease started in 9/2016 under a 10 year term with two 5 year extensions
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C105 an In-line retail street fronting ground level condo unit, which totals 2,531 SF, that is currently leased by Alien Treats Ice Cream/Dessert. Lease started 8/2024 under a 5 year term with two 4 year extensions 4% annual increases.
The owner is looking to sell the unit either to a owner / user or as an investment structuring a lease back with one of his businesses.
Being offered separately or together in a portfolio of five units representing the entire retail ground floor 101 Eola Condo Tower. The portfolio also includes the entire second floor parking spaces of the tower which brings in $100k+ annually.
Investment highlights
Property Highlights:
Prominent ground level access and frontage along S Eola Drive, E Pine Street and E Church Street with floor-to-ceiling glass storefronts.
High pedestrian traffic driven by 146 luxury condo residences above and surrounding multifamily density
Modern construction with high ceilings, upgraded finishes, and direct street access
Onsite parking available 2nd floor garage, deeded parking spaces!!
Located within steps of Lake Eola Park, Publix, Starbucks, and numerous restaurants and fitness studios
Zoned AC-3A/T (Downtown Metropolitan Activity Center) — permitting a wide range of commercial uses
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