Pizza Hut | Trustco Bank Strip Center

Pizza Hut | Trustco Bank Strip Center

1875 County Rd 419
Oviedo, FL

Price: $1,975,000
Cap: 7.75%
NOI: $153,067
Building Size: 9,000 SF
Lot Size: 1.55 AC

Investment Highlights

• FIVE TENANT STRIP CENTER IN ORLANDO, FL WITH UPSIDE (84% LEASED)
• STRONG TENANT MIX AND HISTORY
• HEART OF BUSY RETAIL CORRIDOR
• STELLAR DEMOS | 5-MILE POP 103,593 | AVG HHI $94,843 | 10+% GROWTH
• ORLANDO MSA
• NO STATE INCOME TAX

 

FIVE TENANT STRIP CENTER IN ORLANDO, FL WITH STELLAR DEMOS AND UPSIDE (84% LEASED | ONE 1,400 SF VACANT UNIT)
• Solid Tenant mix including Pizza Hut (130 Unit Operator), Trustco Bank (148 Branches), Liquor Store, Nail Salon, and Bernie’s To Go (10+ years at the center).
• 50% of the center has signed lease renewals with increases within the past 12 months.
• The Largest Tenant is Trustco Bank (Guaranteed by 148 locations & $4.8 Billion in total assets).
• Trustco Bank has 53 Florida locations | This branch is top 50% in total deposits.

ATTRACTIVE RETAIL LOCATION
• Well located on West County Road 419 (21,500 VPD) in the growing suburb of Oviedo, FL
• Surrounding National Retailers include Publix, Winn Dixie, Taco Bell, 7-Eleven, Walgreens, Verizon, SunTrust, Firehouse Subs, and more.
• Located in a Dense and Affluent Suburban area
• 5 Mile Demos: Population 96,556 | Avg HHI $92,583 | Proj. Growth 10.34%.

ORLANDO MSA
• Oviedo, FL is a thriving suburb in the Orlando MSA. Money Magazine and Businessweek have both rated Oviedo as one of the Best Places to Live in the U.S. Orlando Metros population is projected to grow 50% by 2045.
• Orlando is home to more than a dozen theme parks which draw more than 72 million visitors annually. Chief among them is Walt Disney World.
• Orlando is ranked #12 on the Forbes U.S. Cities for Job Growth and Top 30 on the Forbes Best Places for Businesses & Careers. Professional, scientific, and technology positions grew 8.2 percent in the past year and the metro is expected to have 40%+ of future job growth in the next decade.

FLORIDA HAS NO STATE INCOME TAX
• Florida is one of only seven states that have no state income tax.

Zach Taylor
OFFERING MEMORANDUM

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