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29427997
29427998

16428 New Independence Pkwy, Winter Garden, FL 34787

BP
GA 349355
CBRE - Atlanta
TC
GA 374849
CBRE Atlanta
CR
FL 597928
CBRE - Miami
TG
NY 10401393181
CBRE - Midtown Manhattan
Listed by CBRE - Atlanta, CBRE Atlanta, CBRE - Miami, CBRE - Midtown Manhattan
$5,428,600
129 days on market
Updated 129 days ago

Miller's Ale House: Winter Garden, FL

Details
Property Type Retail
Sub Type Bar, Restaurant
Square Footage 7,300
Net Rentable (SqFt) 7,300
Units 1
Cap Rate 5.25%
NOI $285,000
Occupancy 100%
Tenancy Single
Brand/Tenant Miller's Ale House
Lease Type NNN
Lease Expiration 10/31/2037
Remaining Term 11.4
Rent Bumps Yes
Lease Options Three, 5-year
Price per SqFt $744
Year Built 2022
Acreage 2.350
Parking Spaces 137 spaces
Parking Per SqFt 18.77
Investment Type Net Lease
Ground Lease Yes

Retail | 5.25% CAP | 7,300 SqFt

Marketing description

CBRE is pleased to exclusively offer for sale the ±11.9-year NNN Miller’s Ale House ground lease situated on 2.35 acres in Winter Garden, FL – an affluent community in the Orlando-Kissimmee-Sanford MSA (Population: 2.8M). Commenced in 2022, the lease features 10% rent increases in 2027, 2032 and in each of the three, 5-year renewal options.

The 7,300 SF Miller’s Ale House is an outparcel to Hamlin Town Center (“HTC”, also for sale: Hamlin Town Center OM), an institutional core-quality community shopping center in the heart of metropolitan Orlando’s Horizon West, one of the fastest-growing master planned communities in the U.S. HTC has been built in phases beginning in 2017 and is anchored by a 53,785 SF high-volume Publix grocery store, Urban Air, and TJ Maxx opening in March 2026. The center features a diverse and complementary shop tenant mix with restaurants, banks, medical and service uses. HTC is part of a significant retail concentration including a Walmart Supercenter, Cinepolis, PopStroke, and future locations for Lowe’s, Life Time Fitness and others.

Investment highlights

Outparcel to Hamlin Town Center

Miller’s Ale House is an outparcel to Hamlin Town Center (“HTC”, also for sale: Hamlin Town Center OM), an institutional core-quality community shopping center in the heart of metropolitan Orlando’s Horizon West master planned community. HTC has been built in phases beginning in 2017 and is anchored by a 53,785 SF high-volume Publix grocery store, Urban Air, and TJ Maxx opening in March 2026. The center features a diverse and complementary shop tenant mix with restaurants, banks, medical and service uses. HTC is part of a significant retail concentration including a Walmart Supercenter, Cinepolis, PopStroke, and future locations for Lowe’s, Life Time Fitness and others.

  • Strategic Regional Location: Alpha positioning at the southeast quadrant of the SR 429 & New Independence Parkway (85,000 Combined VPD) interchange providing local access and regional connectivity. Wellness Way is under construction and will open in 2026 connecting SR 429 to U.S. Highway 27 dramatically improving access for customers from the west.

  • Wealthy Customer Base: HTC directly serves 8 of Orlando’s top 15 wealthiest communities, including the top 3: Windermere, Lake Butler and Bay Hill (avg HH incomes: $188K - $232K).

  • Outstanding and Growing Foot Traffic: The Hamlin retail concentration including the Property ranks #4 of 196 total retail centers in a 15-mile radius with 6.3MM annual visits up 6% year over year.

Horizon West Master Planned Community

Miller’s Ale House is part of the 21,000-acre Horizon West master-planned community comprised of five distinct villages and anchored by Hamlin Town Center—the commercial and lifestyle heart of the region.

Horizon West is one of the fastest-growing master-planned communities in the U.S with ~40,000 residential units and a projected population over 100,000 at full build out. The 3- and 5-mile populations today are 46,630 and 111,640, representing 289% and 212% increases respectively since 2010. 3- and 5-mile average household incomes are $179,008 and $177,234 respectively (over 50% above the Orlando MSA average of $106,712). Due to its highway interchange positioning and tenancy, Hamlin Town Center and the immediately surrounding retail are poised to serve as one of Orlando’s primary retail destinations for decades to come.

Premier Nearby Demand Drivers

Horizon West is home to top-tier public and private and schools which have contributed to the area’s unprecedented housing demand. The area is also anchored by the $145MM, 214,000 SF, 120-bed, Orlando Health Hospital campus and Orlando College of Osteopathic Medicine, both 1 mile to the south. Drive time to Walt Disney World and downtown Orlando are 15 and 25 minutes respectively.

Ongoing Commercial and Infrastructure Development

A Lowe’s Home Improvement center is planned on the northeast quadrant of the SR 429 & New Independence Parkway interchange, directly north of Walmart. Additionally, Life Time Fitness will anchor approximately 300,000 square feet of commercial space plus over 1,000 multi-family apartment units on the southwest quadrant, further enhancing regional draw and demand.

Two roads are currently under construction and will connect the Hamlin area to U.S. Highway 27 in Lake County.

  1. Wellness Way is under construction and will open in 2026, connecting State Road 429 to U.S. Highway 27 and dramatically improving access for customers from the west.

  2. SR 516 (Lake/Orange Expressway) will open in 2029 and will link SR 429 to U.S. Highway 27 1.8 miles south of the Property.

Listing Contacts

BP
GA 349355
CBRE - Atlanta
TC
GA 374849
CBRE Atlanta
CR
FL 597928
CBRE - Miami
TG
NY 10401393181
CBRE - Midtown Manhattan
Listed by CBRE - Atlanta, CBRE Atlanta, CBRE - Miami, CBRE - Midtown Manhattan

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Loan Amount
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$285,000.00
$23,750.00/mo

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DSCR
5.25%
Cap Rate
5.25%
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