Value Pawn & Jewelry

7000 S. US Highway 17-92, Fern Park, Florida

$1,852,714

Details

Price : $1,852,714
Cap Rate : 7.0%
NOI : 129,690
Price Per SF : $298.82
Building Size : 6,200 Sq Ft
Lot Size (AC) : 0.50
Lease Type : NN
Lease Expiration : 4/30/2028
Renewal Options : Two, 5-Year
Rental Increases : 10% Every 5 Years Including Options
Status : Available
Property Type : Retail
Year Renovated : 2013

Investment Highlights

±91,119 People within 3 Mile Radius
±249,639 People within 5 Mile Radius
No. 1 Growing Job Market in the U.S.
Rare 10% Rental Increases Every 5 Years
Corporate Guaranteed Lease - NASDAQ: EZPN
10 Years Remaining on Original 15-Year Lease
Prominent Signage and Frontage on S. Hwy 17-92
72 million Visitors in 2017 Spending over $41 billion
Over 129,000 VPD at the corner of Hwy 17-92 & E. Altamonte Drive
Centrally Located in Orlando MSA with Population over 2.3 million
Located on Dominant Retail Thoroughfare Directly across from Lowes
Minutes from Altamonte Town Center, 25-acre, 1.5m SF Lifestyle Center
Over 150 Companies with Significant Presence from over 20 Countries in the Area
Surrounded by Many National Credit Tenants Including Ross, Target, Bealls and more

Description

This exclusive listing is for a single tenant net lease located in Fern Park (Orlando), Florida. The property was remodeled in 2013, consists of approximately 6,200 square feet of building space and is situated on a prime 0.50 acre parcel. There are 10 years remaining on the original 15-year net lease with minimal landlord responsibilities limited to roof and structure and rare 10% rental increases every 5 years with two, five-year options. The lease is guaranteed by EzCorp, a leading provider of short term loans and resale merchandise, publicly traded (NASDAQ: EZPW) and operating over 1,500 locations across North America with 190 locations in the U.K. with reported 2017 record revenues of $435 million and $32 million in net income.

The subject property benefits from a high volume of consumer traffic along the dominant retail corridor serving Fern Park, Altamonte Springs and surrounding Orlando communities. The property is directly across from Lowes with many national credit tenants in the immediate trade area. Fern Park is a densely populated suburb located in the heart of Seminole County approximately 10 miles north of Orlando. The annual rent at the Subject Property is only $20PSF, which is highly replaceable in this trade area. The thriving local economy combined with record breaking population growth position Value Pawn as an ideal scenario for an investor to capitalize on a long term net lease investment property with generous rent increases located in a densely populated and rapidly growing market.

Offering Memorandum

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