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12100 Lake Underhill Rd 3,035 SF Retail Building Orlando, FL 32825 $4,152,790 CAD ($1,368.30 CAD/SF) 5% Cap Rate
Investment Highlights
- RARE LEASE STRUCTURE
- HIGH TRAFFICKED RETAIL CORRIDOR
- OUTPARCEL TO TOP PERFORMING CENTER
Executive Summary
RARE LEASE STRUCTURE
- One of the first Abs. NNN Leased Heartland Dentals
- Zero landlord responsibilities
- 12 Years lease with four (4) five (5) year extensions
- 10% rental Increases every 5 years and in option periods
LARGEST DENTAL ORGANIZATION GUARANTY
- Heartland Dental is the largest dental support organization in the United States
- Over 1,800 Locations
- 2023 Total Revenue was $3B
OUTPARCEL TO TOP PERFORMING CENTER
- Property is located on an outparcel to Lake Underhill Road Shopping Center, a BJ’s & Lowe’s Home Improvement anchored shopping center with over 2.9M visits a year
RECENT RENOVATION
- The Building has recently been converted to suit the tenant’s specifications
- Tenant has paid to add specific capital improvements to enhance operational performance
HIGH TRAFFICKED RETAIL CORRIDOR
- Fronting Lake Underhill Rd (22,500 VPD) and a quarter mile to Alafaya trail (58.5K VPD)
- Over 2.6M SF of retail space within a 1-mile radius boasting a 1.2% vacancy rate (Costar)
- Under 1 mile to Waterford Lakes Town Center a one-million SF Power Center that includes: Lowe’s Home Improvement, BJ’s, Home Depot, Kohl’s and more
LOCKHEED MARTIN
- Site is located adjacent to the 293,532 sqft Orlando Lockheed Martin office
- The 262 acre campus and manufacturing plant employs over 10K people
- In 2023 Lockheed Martin’s revenue was approximately $67.57 Billion dollars
- One of the first Abs. NNN Leased Heartland Dentals
- Zero landlord responsibilities
- 12 Years lease with four (4) five (5) year extensions
- 10% rental Increases every 5 years and in option periods
LARGEST DENTAL ORGANIZATION GUARANTY
- Heartland Dental is the largest dental support organization in the United States
- Over 1,800 Locations
- 2023 Total Revenue was $3B
OUTPARCEL TO TOP PERFORMING CENTER
- Property is located on an outparcel to Lake Underhill Road Shopping Center, a BJ’s & Lowe’s Home Improvement anchored shopping center with over 2.9M visits a year
RECENT RENOVATION
- The Building has recently been converted to suit the tenant’s specifications
- Tenant has paid to add specific capital improvements to enhance operational performance
HIGH TRAFFICKED RETAIL CORRIDOR
- Fronting Lake Underhill Rd (22,500 VPD) and a quarter mile to Alafaya trail (58.5K VPD)
- Over 2.6M SF of retail space within a 1-mile radius boasting a 1.2% vacancy rate (Costar)
- Under 1 mile to Waterford Lakes Town Center a one-million SF Power Center that includes: Lowe’s Home Improvement, BJ’s, Home Depot, Kohl’s and more
LOCKHEED MARTIN
- Site is located adjacent to the 293,532 sqft Orlando Lockheed Martin office
- The 262 acre campus and manufacturing plant employs over 10K people
- In 2023 Lockheed Martin’s revenue was approximately $67.57 Billion dollars
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
3,035 SF
Building Class
B
Year Built/Renovated
2002/2024
Price
$4,152,790 CAD
Price Per SF
$1,368.30 CAD
Cap Rate
5%
NOI
$207,640 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.07
Lot Size
1.03 AC
Zoning
P-D
Parking
33 Spaces (10 Spaces per 1,000 SF Leased)
Frontage
77’ on Lake Underhill Rd
Amenities
- Dedicated Turn Lane
- Pylon Sign
- Drive Thru
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
- Heartland Dental
- Administrative and Support Services
- 3,035 SF
- -
- Triple Net
- Nov 2036
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
| Heartland Dental | Administrative and Support Services | 3,035 SF | - | Triple Net | Nov 2036 |
Nearby Major Retailers
Property Taxes
| Parcel Number | 27-2231-8987-00-010 | Improvements Assessment | $1,160,701 CAD |
| Land Assessment | $904,608 CAD | Total Assessment | $2,065,309 CAD |
Property Taxes
Parcel Number
27-2231-8987-00-010
Land Assessment
$904,608 CAD
Improvements Assessment
$1,160,701 CAD
Total Assessment
$2,065,309 CAD
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12100 Lake Underhill Rd
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