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208 Guava St 1,412 SF Retail Building Lady Lake, FL 32159 $877,850 CAD ($621.71 CAD/SF) 6.33% Cap Rate
Investment Highlights
- Long-term Subway lease in place through 08/31/2034 with 3% annual rent increases, providing consistent NOI growth and built-in ination protection.
- Stand-alone retail building oering strong real estate fundamentals, including excellent visibility, convenient access, dedicated parking
- Located in Lady Lake, Florida, directly adjacent to The Villages, one of the fastest-growing retirement and residential communities in the U.S
- Tenant is responsible for the majority of day-to-day operating expenses, including HVAC, plumbing, electrical, utilities, interior maintenance, ETC
Executive Summary
Stand-alone Subway located at 208 W Guava Street in Lady Lake, Florida, directly adjacent to The Villages, one of the fastest-growing master-planned communities in the United States.
• Long-term lease in place through August 31, 2034, providing approximately 8+ years of remaining term.
• Attractive 3% annual rent increases throughout the primary term and option periods, creating consistent NOI growth and inflation protection.
• Tenant operates under Doctor's Associates LLC with a proven multi-unit operator controlling approximately 23 Subway locations, including 19 in Florida and 4 in Indiana.
• Two (2) additional five-year renewal options provide long-term occupancy potential.
• NN lease structure with tenant responsible for the majority of operating expenses, including HVAC, plumbing, electrical, utilities, interior maintenance, trash removal, pest control, and general property upkeep. Landlord responsibilities are limited primarily to roof and structure.
• 1,237 SF freestanding building situated on approximately 0.29 acres with dedicated parking and excellent accessibility.
• Strategically positioned near the signalized intersection of US Highway 27 and State Road 466, benefiting from traffic counts exceeding 24,000 vehicles per day.
• Surrounded by national retailers including Publix, Target, TJ Maxx, Best Buy, PetSmart, CVS, Chick-fil-A, McDonald's, Burlington, Five Below, Sam's Club, Wawa, AutoZone, and Advance Auto Parts.
• Strong demographic profile with a population exceeding 89,000 residents within a five-mile radius and projected continued growth throughout the trade area.
• Rare opportunity to acquire an affordable net-leased asset in a high-growth Florida market with built-in rent growth and limited landlord responsibilities.
• Long-term lease in place through August 31, 2034, providing approximately 8+ years of remaining term.
• Attractive 3% annual rent increases throughout the primary term and option periods, creating consistent NOI growth and inflation protection.
• Tenant operates under Doctor's Associates LLC with a proven multi-unit operator controlling approximately 23 Subway locations, including 19 in Florida and 4 in Indiana.
• Two (2) additional five-year renewal options provide long-term occupancy potential.
• NN lease structure with tenant responsible for the majority of operating expenses, including HVAC, plumbing, electrical, utilities, interior maintenance, trash removal, pest control, and general property upkeep. Landlord responsibilities are limited primarily to roof and structure.
• 1,237 SF freestanding building situated on approximately 0.29 acres with dedicated parking and excellent accessibility.
• Strategically positioned near the signalized intersection of US Highway 27 and State Road 466, benefiting from traffic counts exceeding 24,000 vehicles per day.
• Surrounded by national retailers including Publix, Target, TJ Maxx, Best Buy, PetSmart, CVS, Chick-fil-A, McDonald's, Burlington, Five Below, Sam's Club, Wawa, AutoZone, and Advance Auto Parts.
• Strong demographic profile with a population exceeding 89,000 residents within a five-mile radius and projected continued growth throughout the trade area.
• Rare opportunity to acquire an affordable net-leased asset in a high-growth Florida market with built-in rent growth and limited landlord responsibilities.
Property Facts
Sale Type
Investment
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Fast Food
Building Size
1,412 SF
Building Class
C
Year Built/Renovated
2006/2022
Price
$877,850 CAD
Price Per SF
$621.71 CAD
Cap Rate
6.33%
NOI
$55,553 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.11
Lot Size
0.29 AC
Zoning
HC
Parking
15 Spaces (10 Spaces per 1,000 SF Leased)
Frontage
73’ on us-27 Hwy
Amenities
- Freeway Visibility
- Pylon Sign
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Accommodation and Food Services
- -
- -
- -
Subway began in 1965 when Fred DeLuca and Peter Buck opened Pete's Super Submarines in Bridgeport, Connecticut, and the business later adopted the Subway name as it expanded. The company grew by franchising in the 1970s and built a restaurant model centered on freshly made, convenient sandwiches served at value-focused prices. Subway now operates as a global restaurant franchise with a network of franchisees serving made-to-order sandwiches and related menu items such as salads, cookies, soft drinks, and selected pizzas at certain locations. Subway ranks among the world's largest single-brand restaurant chains, with a wide international footprint and a continued focus on franchise-based growth.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Accommodation and Food Services | - | - | - |
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 20-18-24-0400-000-04900 | Improvements Assessment | $215,382 CAD |
| Land Assessment | $298,999 CAD | Total Assessment | $514,381 CAD |
Property Taxes
Parcel Number
20-18-24-0400-000-04900
Land Assessment
$298,999 CAD
Improvements Assessment
$215,382 CAD
Total Assessment
$514,381 CAD
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208 Guava St
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