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INCOME COMMERCIAL PROPERTY
ACROSS FROM FLORIDA MALL1051 W SANDLAKE RD, ORLANDO, FL 32809
Tri Apple Realty & Investment Corp.
Anita Nguyen
Commercial Real Estate Specialist
1-561-877-0331
OFFERING MEMORANDUM
CONFIDENTIALITY AND DISCLAIMERThe information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it
from Tri Apple Realty & Investment Corp. and should not be made available to any other person or entity without the written consent of Tri Apple Realty &
Investment Corp. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a
preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Tri Apple
Realty & Investment Corp. has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject
property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of
contaminating substances, asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial
condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in
this Marketing Brochure has been obtained from sources we believe to be reliable; however, Tri Apple Realty & Investment Corp. has not verified, and will not
verify, any of the information contained herein, nor has Tri Apple Realty & Investment Corp. conducted any investigation regarding these matters and makes no
warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures
to verify all of the information set forth herein.
NON-ENDORSEMENT NOTICE
Tri Apple Realty & Investment Corp. is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The
presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Tri Apple
Realty & Investment Corp., its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Tri Apple Realty & Investment Corp., and is solely
included for the purpose of providing tenant lessee information about this listing to prospective customers.
ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY – DO NOT DISTURB TENANT
PLEASE CONTACT LISTING AGENT FOR MORE DETAILS.
• INVESTMENT & OPPORTUNITY
• Market Highlights 4
• Investment Highlights 5
• Property Survey 9
• Sale Comps 13
• Opportunity 10
• New building’s site plan 11
• Hukoo’s Family Fun Overview 17
• PRICING
• Pricing 18
• DEMOGRAPHICS
• City Overview | Orlando, FL 20
• Income & Race 21
• Economic & Workforce 22
• Tax 23
Anita Nguyen
Tri Apple Realty & Investment Corp.
Commercial Real Estate SpecialistExclusively listed by:
Table of Contents
Tell: 561-877-0331
License No.: 3325717
Property Description
City Overview
Orlando is one of the world’s premier tourist destinations with many famous
attractions such as: Walt Disney World, Universal Studios, SeaWorld, Gatorland,
and Wet ‘n Wild. The city is also one of the most popular destinations for
conferences & conventions with the Orange County Convention Center currently
the second-largest convention facility in the United States. Orlando also ranks
as the fourth most popular American city based on where people want to live
according to a 2009 Pew Research Center study.
Market Highlights
The Central Florida Retail Market remained strong through the second quarter of
2016, driven by an expanding population and booming tourism industry. The
growing residential real estate market and expanding industrial distribution
sector in Orlando are also fueling retail growth.
Central Florida is predicted to be one of Florida’s fastest-growing regions going forward. Despite a sluggish global economy, visitation to Orlando
continues to increase. A growth rate of 3.9 percent year-over-year led to an all-time high of 66 million visitors in 2015.
With rising consumer confidence and continued gains in employment and wages, the local retail market has benefited from a recent upsurge in
consumer spending. Rents are projected to rise 3.10% in 2016. Orlando commercial real estate continues to be in high demand by institutional, private
and overseas investors.
CBRE research
Property Description
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Sand Lake Road
Investment Highlights:
High CAP Rate:
• Offer price is based on the 6.67%-7% CAP rate of current tenant and the
value of $300K - $500K of the outparcel in which to build an additional
building for an additional income.
The property benefits from its superior location:
• Situated directly across from the main entrance to the Florida Mall, one of thebusiest Mall in Central Florida, that welcomes more than 20 million visitors annually
• Minutes from the Orlando International Airport and centrally-located for easy accessto all of Orlando’s prime tourist attractions including Walt Disney World, SeaWorld,Universal Studios & I-Drive
• Excellent exposure on Sand Lake Road, which got $48 million approved project towidening Sand Lake Road from four to six lanes, a major artery leading to OrlandoInternational Airport, with easy access to the Florida Turnpike, SR 528, John YoungParkway, and Interstate-4
• Surrounded by strong National tenants: Home Depot, Publix, Target, Wells Fargo,Chase, Apple, Macy’s, Dillard’s, Toys R Us, Best Buy…
• Two digital display boards, each 54 square foot, and mounted either side of a large25-foot monument sign garner the attention of all Florida Mall traffic plus the42,000+ vehicles that pass the building each day
• Within 5 mile radius of Multi-Million Approved Projects which are expected to attractadditional 3+ million new visitors each year and create thousands of new jobs for thearea. Some of them are $460 million Skyplex Complex, Topgolf Orlando, AndrettiIndoor Karting $ Games, $400 million iSquare Mall & Hotel, etc.
The property’s excellent location and established business create a dependable rental income for investors and developers while the oversized 3-acre parcel provides redevelopment potential and future growth opportunities.
Next to Florida Mall - Surrounding by National Tenants
5 Miles Radius Map
$450M
Skyplex
Orlando
Eye
Hollywood
Plaza
Topgolf
Andretti
Hukoo’s Family
Fun
4.8 mile
Multi-Million Dollar Approved Projects within 5 mile radius
$400 M iSquare
Mall & Hotel
Property Survey
Opportunity
Currently, there is an existing 25,000 sf building which is leased 100% to a tenant operating a family entertainment center named Hukoo’s Family Fun.
The oversized parcel of 3 acres provides an excess of parking that would permit an additional freestanding structure (between 5,000 – 10,000 sf
building) or extension to the existing building with flexible C-2 zone permitting multiple commercial uses including office, restaurant & retail.
This redevelopment opportunity creates a potential source of additional rental income & will also add significantly value for the property.
This exciting property is a unique opportunity for investors/developers to acquire real estate in close proximity to Orlando’s tourist attractions,
downtown & residential areas with easy access to major highways and the international airport. Orlando’s diversified economy underpins its consistent
growth leading to a high and sustained demand for commercial real estate that bodes well for the future viability of this real estate acquisition.
Gold
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Sand Lake Road
25 foot
digital sign
48
2
48
2
Proposed
new
restaurant
location
Proposal for an additional building’s site plan
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Proposed
new
restaurant
location
Proposal for an additional building for an Additional Income
Gold
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Proposed
new
restaurant
location
Propose An Additional Building
Current Building
100% lease to
current tenant
RESTAURANT TENANT IS DESIRED
CURRENT CAP RATE: 6.67%
POTENTIAL CAP RATE: 9% - 13%
795 W Sand Lake Rd, Orlando, Florida 32809
Sale Price (USD) 4,899,700.00 Lot Size (Acres) 3.08
Close of Escrow 6/27/2017 Price/ SF 193.27
Zoning C-2 Living Area (SF) 25,351
Distant to Hukoo’s (mile) 0.5 Gross Building Area (SF) 30,607
Recent Sales
8003 Golden Sky Ln, Orlando, Florida 32809
Sale Price (USD) 5,666,900.00 Lot Size (Acres) 2.17
Close of Escrow 8/18/2016 Price/ SF 726.43
Zoning C-2 Living Area (SF) 7801
Distant to Hukoo's (mile) Across the street –
0.1 mileGross Area (SF) 9,202
7468 W Sand Lake Rd, Orlando, Florida 32809
Sale Price (USD) 12,078,000.00 Lot Size (Acres) 3.24
Close of Escrow 12/14/2016 Price/ SF 666.45
Zoning C-2 Living Area (SF) 18,123
Distant to Hukoo’s (mile) 5.3 Gross Building Area (SF) 25,311
Recent Sales
7423 S Orange Blossom Trail, Orlando, Florida 32809
Sale Price (USD) 2,731,700.00 Lot Size (Acres) 1.36
Close of Escrow 12/23/2016 Price/ SF 467.12
Zoning C-2 Living Area (SF) 2.17
Distant to Hukoo's (mile) 1 mile Gross Area (SF) 5,952
7024 International Drive, Orlando, Florida 32819
Sale Price (USD) 7,800,000.00 Lot Size (Acres) 1.51
Close of Escrow 6/13/2016 Price/ SF 586.69
Zoning C-2 Living Area (SF) 13,295
Distant to Hukoo’s (mile) 5.3 Gross Building Area (SF) 14,630
Recent Sales
7024 International Drive
$7,800,000.00Hukoo’s
1051 Sand Lake Rd
8003 Golden Sky Ln
$5,666,900.00
5.3 mile
Across from the
street
Recent Sales Map
795 W Sand Lake Rd,
$4,899,700.00
Next door
7423 S Orange Blossom Trail
$2,731,700.00
1 mile
7468 W Sand Lake Rd
$12,078,000.00
5.6 mile
Current Tenant Overview - Hukoo’s Family Fun
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Hukoo’s Family Fun is a thriving Family
Entertainment Center located next to Florida
Mall, the largest shopping center in Central
Florida, and in close proximity to all of the
major Disney and Universal Studios theme parks.
Hukoo’s has games & attractions that appeal to
all age groups, with an emphasis on families
with young children.
In addition to serving Orlando residents this
successful Family Entertainment Center also
attracts patrons from a large cross section of the
66+ million visitors from over 197 countries that
visit Orlando every year.
Property Name Hukoo's Family Fun
Property Type Game Center
Ownership Private
Headquartered Orlando, Florida
Website www.hukoos.com/
Year Founded 2012
Current Tenant: Hukoo's Family Fun
1051 W Sand Lake Rd, Orlando, FL 32809
Lease price $300,000 per year
Lease end 12/31/2022
Leasable Area 25,000 SF
Lot Size 3.04 ACRE
Year Built 1998
Proposed New Building Development – Estimate Leasing Term
New Building Square Foot (SF) 5,000 to 10,000
Expect Tenant National Restaurant Chain
Expect Lease Rate/SF/year $40.00 to $53.60
Expect Project Finish Date 12/30/2018
Expect Lease Start Date 1/1/2019
Expect Yearly Rent $ 200,000 – $ 300,000.00
Expect Lease Type NNN
Expect Lease Term 5 to 10-year
Estimate Project cost $ 500,000
Current Rental Rate in 32809 zip code area
Business NameDistant to Hukoo's
(mile)
Lease space
(SF)
Lease Price
$ / SFLease Term
Millers Orlando Ale House
1667 Florida Mall Ave,
Orlando, FL 32809
0.9 5,592 53.60 NNN
3060 W Sand Lake Rd,
Orlando, FL 328191.8 7,995 40.00 NNN
Pricing
Pricing
1- Maximum value will be derived from leasing a 5,000 - 7,000 square foot, build-to-suit, structure to a Restaurant Tenant
The rent commencement date is expected to start on Jan 1, 2020 with a 5 to 10-year lease, 5-year option, and NNN
The market rate for a restaurant tenant is estimated to be $40/SF/Yr.
This is based on the lowest observed rental rates within a 2 mile radius of the subject property
Overview – Orange County| 32809, Orlando, Florida
Orange County is the region’s most populous county and
includes the City of Orlando, as well as twelve other
incorporated cities. The county sits in the approximate
center of the state, midway between Jacksonville and
Miami. The Tampa-St. Petersburg-Clearwater area on the
Gulf of Mexico and Daytona Beach on the Atlantic Ocean
are within easy reach. Orange County is home to the
second largest university in the United States, one of only
two national entrepreneur centers and a world-class
international airport and Lake Nona Medical City.
Sources: U.S Census Bureau, University of FL, Bureau of Economic & Business Research – April 2015 * Estimate
Radius 1 Mile 3 Mile 5 Mile
Population
2022 Projection 8,615 69,319 200,439
2017 Estimate 7,942 63,096 182,491
2010 Census 7,721 56,437 163,507
Growth 2017 - 2022 8.47% 9.86% 9.84%
Growth 2010 - 2017 2.86% 11.80% 11.61%
2017 Population
by Age
7,942 63,096 182,491
Age 0 - 4 517 6.51% 4,207 6.67% 11,771 6.45%
Age 5 - 9 528 6.65% 4,228 6.70% 11,189 6.13%
Age 10 - 14 556 7.00% 4,249 6.73% 11,061 6.06%
Age 15 - 19 579 7.29% 4,286 6.79% 11,420 6.26%
Age 20 - 24 645 8.12% 4,965 7.87% 13,762 7.54%
Age 25 - 29 665 8.37% 5,509 8.73% 15,931 8.73%
Age 30 - 34 597 7.52% 5,125 8.12% 15,119 8.28%
Age 35 - 39 547 6.89% 4,682 7.42% 13,769 7.55%
Age 40 - 44 527 6.64% 4,404 6.98% 12,898 7.07%
Age 45 - 49 512 6.45% 4,170 6.61% 12,303 6.74%
Age 50 - 54 509 6.41% 4,115 6.52% 12,239 6.71%
Age 55 - 59 461 5.80% 3,721 5.90% 11,159 6.11%
Age 60 - 64 384 4.84% 3,046 4.83% 9,245 5.07%
Age 65 - 69 308 3.88% 2,373 3.76% 7,349 4.03%
Age 70 - 74 220 2.77% 1,591 2.52% 5,024 2.75%
Age 75 - 79 158 1.99% 1,051 1.67% 3,415 1.87%
Age 80 - 84 112 1.41% 697 1.10% 2,359 1.29%
Age 85+ 117 1.47% 675 1.07% 2,480 1.36%
Age 65+ 915 11.52% 6,387 10.12% 20,627 11.30%
Median Age 34.00 34.00 35.40
Average Age 35.80 35.30 36.50
Income & Race
Sources: U.S Census Bureau, University of FL, Bureau of Economic & Business Research – April 2015
Household Income
The median age of county residents is 33.8 years with an average
annual wage of $51,700 and wage growth of 3.5%
Employment growth is forecast to average 2.5% with personal income
growth estimated at 5.8%
63.6%
4.9%
0.4%
26.9%
20.8%
6.8%
Race
Economic & Workforce
Unemployment Rate (Dec. 2015)
Orange County 3.80%
Orlando MSA 4.00%
Florida 4.40%
United States 4.50%
Employment by Industry
Labor Force
Most employment sectors will experience growth with the two
largest, Leisure & Hospitality and Professional & Business
Services expected to average annual growth rates of 2.9% and
4.1% respectively
Orlando’s retail sector remains strong, continuing to outpace
other cities in the Southeast due to sustained growth trends in
both visitor numbers and new residents
Sources: U.S Census Bureau, University of FL, Bureau of Economic & Business Research – April 2015
Orange County boasts a young, well-educated and diverse
workforce with more than 43.6% of its total population in the
key 25-54 demographic, and 21.4% with a Bachelor’s Degree.
Economic
Educational Attainment
Tax & Incentives
Tax & Infrastructure
Tax Rate
Personal Income Tax None
Personal Property (millage rate) 16.6174 - 26.7716
Corporate Income Tax 5.50%
Sales Tax 7.00%
Orange County has No Income Tax and a Low Property Tax rate of 1.18% vs. 1.21% Nationally
Following the Ad Valorem Tax Exemption program, qualifying businesses are granted temporary
county property tax exemptions of up to 100 percent for up to 10 years
County businesses also benefit from Florida’s incentive programs. The Qualified Target Industry
Tax Refund (QTI) offers refunds on corporate income, sales & intangible personal property taxes
for companies that create high wage jobs in targeted, high value-added industries.
The Capital Investment Tax Credit (CITC) gives annual credits against Florida corporate income
tax, up to 20 years, for businesses that create at least 100 jobs and have a minimum of $25
million in eligible capital investment costs. The High Impact Performance Incentive Grant (HIPI)
provides grants to businesses that create at least 50 jobs and have an accumulative investment of
$50 million in a three-year period.
With these incentive programs, Orlando’s economic growth is one of the strongest statewide and
was recently named the #1 market in the country for job creation by Forbes.
Infrastructure
Air
Orlando International Airport (MCO) is one of
the fastest growing major international
airports in the world, ranked as the second
busiest airport in Florida and 14th busiest in
the US. More than 38 million passengers
were served in 2015.
Rail
The rail transit system stretches 31 miles
from the north end of Orlando to south
Orange County near the MCO. Additional
routes from north to south of Volusia County,
and from Miami to Orlando will coming soon.
Interstates/Roadways
Orlando’s strong roadways provides
invaluable connectivity for businesses. The
Interstate 4 route will soon connect the Gulf
of Mexico to the Atlantic Ocean
Traffic Count Report
Street Cross Street Cross Str Dist Count YearAvg Daily
Volume
Volume
Type
Miles from Subject
Prop
1 Sand Lake Rd Golden Sky Ln 0.15 W 2010 46,289 MPSI 0.11
2 Sand Lake Rd Golden Sky Ln 0.15 W 2011 49,032 MPSI 0.11
3 Sand Lake Rd Skyview Dr 0.08 E 2016 39,500 MPSI 0.39
4 Sand Lake Rd Skyview Dr 0.08 E 2014 45,875 MPSI 0.39
5 Sand Lake Rd Winegard Rd 0.12 E 2016 39,952 MPSI 0.42
6 S Orange Blossom Trl Sand Lake Rd 0.11 S 2016 54,500 MPSI 0.45
7 S Orange Blossom Trl Skyview Dr 0.04 N 2011 64,219 MPSI 0.48
8 S Orange Blossom Trl Southland Blvd 0.04 N 2016 53,313 MPSI 0.48
9 S Orange Blossom Trl August Ln 0.08 S 2016 51,553 MPSI 0.53
10 Sand Lake Rd Lillwill Ave 0.08 W 2011 55,373 MPSI 0.62
Consumer Spending Report
2017 Annual Spending (000s) 1 Mile 3 Mile 5 Mile
Total Transportation/Maint. $12,926 $106,618 $337,194
Vehicle Purchases 5,274 42,337 132,373
Gasoline 5,202 42,410 132,389
Vehicle Expenses 229 2,312 7,513
Transportation 638 6,222 21,293
Automotive Repair & Maintenance 1,583 13,337 43,626
Total Health Care $2,711 $21,187 $71,043
Medical Services 1,404 11,002 36,998
Prescription Drugs 1,043 8,058 26,945
Medical Supplies 265 2,127 7,100
Total Education/Day Care $2,662 $23,534 $79,267
Education 1,969 17,068 55,892
Fees & Admissions 693 6,466 23,375
Consumer Spending Report
2017 Annual Spending ($000s) 1 Mile 3 Mile 5 Mile
Total Specified Consumer Spending $51,294 $425,792 $1,369,209
Total Apparel $3,762 $31,001 $92,476
Women's Apparel 1,382 11,443 35,402
Men's Apparel 768 6,453 19,406
Girl's Apparel 324 2,588 7,285
Boy's Apparel 223 1,813 5,030
Infant Apparel 185 1,535 4,504
Footwear 880 7,169 20,850
Total Entertainment & Hobbies $3,744 $31,753 $105,209
Entertainment 643 5,243 16,060
Audio & Visual Equipment/Service 2,079 17,806 57,790
Reading Materials 82 755 3,266
Pets, Toys, & Hobbies 941 7,950 28,093
Personal Items 3,424 30,434 101,075
Total Food and Alcohol $15,579 $127,348 $399,449
Food At Home 9,478 76,012 230,418
Food Away From Home 5,273 44,250 145,307
Alcoholic Beverages 828 7,085 23,724
Total Household $6,486 $53,917 $183,496
House Maintenance & Repair 1,358 9,691 33,646
Household Equip & Furnishings 2,842 23,530 78,753
Household Operations 1,853 16,282 55,068
Housing Costs 432 4,414 16,029
exclusive listed
Anita Nguyen
Tri Apple Realty & Investment Corp.
Commercial Real Estate Specialist
Tell: 561-877-0331
http://www.triapplerealtyinc.com/property/1051-sand-lake-for-sale/