NNN Investment - 7.29% CAP Clermont, FL

15701 State Road 50 Clermont, FL 34711

15701 State Road 50, Clermont, FL, 34711
15701 State Road 50, Clermont, FL, 34711
FOR SALE NNN Property
Property Type:
Mixed Use
Amount:
$4,450,000
Cap Rate:
7.29%
Last Verified:
Jul 12, 2019

Gateway Center is a ±21,971 SF mixed-use NNN investment property in the Clermont, FL (Orlando MSA) on Hwy 50 with ±242 ft of frontage. The subject Property is positioned to capitalize on the growing Clermont market with over 1,100 new home sites going up across Hwy 50 and an additional 50,000 SF of retail development. The Property attracts tenants/end users within the Clermont market in addition to the Winter Garden market which is 7 miles to the east.

This property is 100% occupied and being offered at $4,450,000, which represents a 7.29% capitalization rate on first year net operating income.

Highlights:

  • Rapidly Growing Submarket with a projected annual growth rate 3.08% through 2024 within three miles of the Property.
  • Ample Frontage on Hwy 50 with ±242 FT at a signalized intersection with traffic count of 62,500 AADT on Hwy 50.
  • Market Rent has Increased by 10.97% since 2017 in the Clermont market.
  • Occupancy Rate of 98.8% along Hwy 50 corridor and 97.6% in Clermont.
  • Clermont voted “Best City to Live in Central FL” by Orlando Business Journal Readers Choice for 2017.
  • High Household Income of $82,303 within 5 mins of the property
  • 2nd Year Gross Income increases by 4.87% per tenant leases.
  • City of Clermont Investing over $20 million into downtown infrastructure and Masterplan.

Additional URLs

Map of 15701 State Road 50, Clermont, FL, 34711

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What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
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  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.