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World Auto Inc, Orlando, FL

World Auto Inc

Orlando, Florida

Price $7,200,000
Cap Rate 6.00%
NOI $432,000
Lease Term 7+ Years Remaining
Lease Type Absolute NNN Lease, With Tenant Responsible For All Taxes, Insurance, And Maintenance, Including Roof, Structure, And Parking Lot
Rental Increases Annual Rental Increases In Initial Term And Option Periods
Year Built 1972
Building Size ±3,667 SF
Lot Size 5.6 Acres (243,936 SF)
Status Available
Lead Broker Information Vincent Aicale
Executive Managing Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Executive Managing Director
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Michael T. Yuras, CCIM
Vice Chairman
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Executive Managing Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Investment Highlights

ABSOLUTE NNN LEASE WITH NO LANDLORD RESPONSIBILITIES
» Absolute NNN lease to World Auto Inc with 7+ years remaining
» Scheduled annual rental increases starting August 2024 during initial term and option period, providing a hedge against inflation
» Requires no landlord management, ideal for an out-of-area investor
» Tenant is responsible for taxes, insurance, and all maintenance, including roof, structure, and parking lot

HIGH-VISIBILITY LOCATION NEAR STRONG TRAFFIC DRIVERS
» Hard-corner location on U.S. Route 441/South Orange Blossom Trail and West Lancaster Road with excellent visibility and access to 71,401 combined vehicles per day at the signalized intersection
» Beneficial proximity to State Route 482/West Sand Lake Road (58,518 AADT), and Interstate 4 (166,000 AADT), significantly increasing traffic in the area
» Dense retail corridor surrounded by major tenants such as Walmart Supercenter, Costco Wholesale, Publix, IKEA, The Home Depot, Lowe’s Home Improvement, Best Buy, and more
» Across from Heaven Plaza (56,000 SF of retail space), and minutes from the Florida Mall (1.7 million SF, 294 retailers) and The Mall at Millenia (1.1 million SF, 147 stores)
» Proximity to area attractions including Universal Orlando Resort (11+ million visitors in 2021), Orange County Convention Center (approx. 200 annual events, 1.5 million annual attendees), and SeaWorld Orlando (4.6 million annual visitors)
» Near well-attended schools including Southern Technical College Orlando (1,712 students), Orange Technical College – South Campus (2,231 students), Oak Ridge High School (2,513 students), Lancaster Elementary School, and more

ACCESS TO OVER TWO MILLION RESIDENTS IN METRO ORLANDO
» Well-positioned in the Sky Lake community (7,226 residents) with a population of 216,076 within a five-mile radius
» Between 2010 and 2022, the population grew by approximately 18% within five miles of the property
» Average household income of $76,891 within five miles (projected 19% increase by 2027)
» Six miles from Downtown Orlando (87,200 jobs, 59.3 million annual visitors in 2021)
» Seven miles from Orlando International Airport (40.3 million annual passengers in 2021), which is within a two-hour drive of 60% of Florida’s population
» Access to more than two million residents in Metro Orlando, a tri-county area encompassing 2,538-square-miles


Property Description

World Auto Inc is located strategically at the hard-corner signalized intersection of U.S. Route 441/South Orange Blossom Trail and West Lancaster Road, with excellent visibility and access to 71,401 combined vehicles per day. The site maintains beneficial proximity to State Route 482/West Sand Lake Road (58,518 AADT) and Interstate 4 (166,000 AADT), significantly increasing traffic in the area. The property is in an ideal location within a dense retail corridor surrounded by major tenants such as Walmart Supercenter, Costco Wholesale, Publix, IKEA, The Home Depot, Lowe’s Home Improvement, Best Buy, and numerous others. Additionally, the property is across from Heaven Plaza (56,000 SF of retail space) and minutes from the Florida Mall (1.7 million SF, 294 retailers) and the Mall at Millenia (1.1 million SF, 147 stores). The site is close to area attractions such as Universal Orlando Resort (11+ million visitors in 2021), Orange County Convention Center (approx. 200 annual events, 1.5 million annual attendees), and SeaWorld Orlando (4.6 million annual visitors). The property is situated near well-attended schools including Southern Technical College Orlando (1,712 students), Orange Technical College – South Campus (2,231 students), Oak Ridge High School (2,513 students), Lancaster Elementary School, and more.

The site is also well-positioned in the Sky Lake community (7,226 residents) with a population of 216,076 within a five-mile radius. Between 2010 and 2022, the population grew by 18 percent within five miles of the property, with projections of additional growth in the next five years. The average household income is $76,891 within five miles and is projected to increase 19 percent by 2027. The location is six miles from Downtown Orlando (87,200 jobs, 59.3 million annual visitors in 2021). The property is just seven miles from the Orlando International Airport (40.3 million annual passengers in 2021), which is within a two-hour drive of 60 percent of Florida’s population. Furthermore, the site is located conveniently within Metro Orlando, which provides access to more than two million residents in the 2,538 square miles tri-county area.

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