Subject Property SANFORD, FLORIDA Just Brakes in Strong Retail Area in Greater Orlando MSA 15 Percent Bumps in Rent Every Five Years Located on U.S. Highway 17-92, with Traffic Counts Averaging Over 32,000 Vehicles Daily Surrounded by Numerous National Retailers Including Publix, Walgreens, CVS, Walmart Supercenter, Lowe s, Ross, GameStop, Dunkin Donuts, KFC, Wendy s and Many More 4231 North U.S. Highway 17/92 Sanford, Florida 32773
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4231 North U.S. Highway 17/92, Sanford, Florida 32773 Subject Property
Just Brakes The mission of Just Brakes is to provide customers with the best experience and value in the auto repair industry Investment Highlights Price: $1,565,000 Cap: 7.25% RENTABLE SQUARE FEET...3,940 ANNUAL RENT...$113,532 RENT PER SQUARE FOOT...$28.82 LEASE TYPE...NNN LAND AREA...1 Acre +/- LEASE EXPIRATION DATE...5/31/2023 RENEWAL OPTIONS...Three, Five-Year Options Location Highlights The Just Brakes in Sanford is in a busy retail area with surrounding national retailers including Publix, Walgreens, CVS, Walmart Supercenter, Lowe s, Ross, GameStop, Dunkin Donuts, KFC, Wendy s, Pizza Hut, Papa John s and many more. Located off U.S. Highway 17-92, also referred to as South Orlando Drive, the subject property is directly across the street from Seminole State College of Florida, which has more than 32,000 students and 800 faculty and staff. The subject property is five miles from Orlando Sanford International Airport. Market Highlights Sanford and Seminole County are included in the Orlando-Kissimmee-Sanford, Florida Metropolitan Statistical Area, which has a population of more than 2 million people. This is the third-largest metropolitan area in Florida, the fifth-largest in the southeastern United States, and the 26th-largest in the United States. Greater Orlando is best known for its tourism industry, which attracts millions of visitors each year.
Investment Highlights Price $1,565,000 Price Per Square Foot: $397.21 Capitalization Rate: 7.25% Total Rentable Area (Square Feet): 3,940 Lot Size (Acres): 1 Acre +/- Year Built: 2008 Income Annual Rent: $113,532 Expenses Taxes: Insurance: Common Area Maintenance: Roof & Structure: Responsibility Tenant Tenant Tenant Tenant Net Operating Income $113,532
Rent Roll Tenant Info Lease Terms Rent Summary Square Feet Term Current Rent Monthly Rent Yearly Rent Yearly Rent/SF Just Brakes 3,940 Current-5/31/2018: $113,532 $9,461.00 $113,532.00 $28.82 6/1/2018-5/31/2023: $10,880.15 $130,561.80 $33.14 Extension Periods Option 1, 6/1/2023-5/31/2028: $12,512.17 $150,146.07 $38.11 Option 2, 6/1/2028-5/31/2033: $14,389.00 $172,667.98 $43.83 Option 3, 6/1/2033-5/31/2038: $16,547.35 $198,568.17 $50.41 Current Rent $113,532 $9,461 $113,532 $28.82 Lease Commencement Date: 6/1/2008 Lease Expiration Date: 5/31/2023 Subject Property
Subject Property Tenant Summary Just Brakes began back in 1980 with a single brake store located in Bryan, Texas. Today, the company operates hundreds of stores in numerous markets. They have also grown to be more than just brakes they now offer total car care. Even through the growth of the company, the mission still remains the same: to provide customers with the best experience and value in the auto repair industry. The name Just Brakes has long belied the variety of services the multistate dealership chain offers in an increasingly competitive industry. While brake service is still a major portion of Just Brakes sales, the dealership offers an array of auto maintenance services and is planning to add tires to the mix as well. Since coming under new ownership the dealership has expanded to 136 locations with the opening of four stores in Dallas and White Settlement, Texas, and Hobe Sound and Fort Pierce, Florida. Seven more store openings in existing buildings are planned for 2015, mostly in Florida. For the near term, the company is focusing on filling in its existing markets, particularly in Georgia, Florida and Texas. The company also has stores in Arizona, Colorado, Nevada, New Mexico and Utah. Just Brakes CEO, Bill Ihnken, said the dealership wants to fill in some of its markets in Texas with the purchase of existing buildings or potential acquisitions. In Florida, the company is focusing on expanding in the state through growth in several target markets, including Orlando, West Coast/ Tampa area, West Palm Beach area and Jacksonville.
Aerial Traffic Count: 32,000+ Vehicles Per Day U.S. Highway 17-92 / South Orlando Drive
Regional & Local Map Bird s Eye Photo of Subject Property 4231 North U.S. Highway 17/92, Sanford, Florida 32773
Location Overview Sanford, Florida / Seminole County Sanford is the county seat and largest city in Seminole County. Sanford is fixed between Orlando to the south and Daytona Beach to the north. Sanford and Seminole County are included in the Orlando-Kissimmee-Sanford, Florida Metropolitan Statistical Area, which has a population of more than 2 million people. This is the third-largest metropolitan area in Florida, the fifthlargest in the southeastern United States, and the 26th largest in the United States. Greater Orlando is best known for its tourism industry, which attracts millions of visitors each year. Famous attractions include Walt Disney World, Universal Studios Orlando and SeaWorld Orlando. The current population of Seminole County is 439,519 with the median age of 38. Seminole County s median household income is $56,134, and the average household net worth is $465,910. Population Sanford 1 Mile...4,619 3 Miles...53,774 5 Miles...143,303 Household incomes 1 Mile...$94,101 3 Miles...$69,621 5 Miles...$70,649 Top Employers Seminole County Public Schools Seminole State College of Florida Seminole County Government
Demographics Summary Report Geography: 5 Miles Population In 2014, the population in your selected geography is 143,302. The population has changed by 19.44 percent since 2000. It is estimated that the population in your area will be 153,093 five years from now, which represents a change of 6.83 percent from the current year. The current population is 48.37 percent male and 51.62 percent female. The median age of the population in your area is 38.0, compare this to the entire United States average which is 37.3. The population density in your area is 1,826.33 people per square mile. Households There are currently 55,468 households in your selected geography. The number of households has changed by 24.76 percent since 2000. It is estimated that the number of households in your area will be 59,701 five years from now, which represents a change of 7.63 percent from the current year. The average household size in your area is 2.57 persons. Income In 2014, the median household income for your selected geography is $52,752, compare this to the entire United States average which is currently $51,972. The median household income for your area has changed by 15.58 percent since 2000. It is estimated that the median household income in your area will be $57,701 five years from now, which represents a change of 9.38 percent from the current year. Race & Ethnicity The current year racial makeup of your selected area is as follows: 73.50 percent White, 14.93 percent Black, 0.07 percent Native American and 3.77 percent Asian/Pacific Islander. Compare these to entire United States averages which are: 71.60 percent White, 12.70 percent Black, 0.18 percent Native American and 5.02 percent Asian/Pacific Islander. People of Hispanic origin are counted independently of race. People of Hispanic origin make up 19.16 percent of the current year population in your selected area. Compare this to the entire United States average of 17.13 percent. Housing In 2000, there were 31,527 owner occupied housing units in your area and there were 12,930 renter occupied housing units in your area. The median rent at the time was $591. Employment In 2014, there are 73,073 employees in your selected area, this is also known as the daytime population. The 2000 Census revealed that 65.78 percent of employees are employed in white-collar occupations in this geography, and 34.10 percent are employed in blue-collar occupations. In 2014, unemployment in this area is 7.11 percent. In 2000, the average time traveled to work was 27.3 minutes. The current year per capita income in your area is $27,495, compare this to the entire United States average, which is $28,599. The current year average household income in your area is $70,648, compare this to the entire United Statesaverage which is $74,533.
Subject Property SANFORD, FLORIDA For more info please contact the Wolfe Retail Group Blayne Lipman Associate Blayne.Lipman@marcusmillichap.com (954) 245-3413 Barry M. Wolfe First Vice President of Investments Barry.Wolfe@marcusmillichap.com (954) 245-3493 Alan Lipsky Associate Alan.Lipsky@marcusmillichap.com (954) 245-3595 Catie Jackson Marketing and Transaction Manager Catherine.Jackson@marcusmillichap.com (954) 245-3592