Howell Branch Corners - Casselberry, FL_Property for Sale
Howell Branch Corners - Casselberry, FL_Property for Sale
Howell Branch Road 2535, Casselberry, FL, 32792, US

Howell Branch Corners - Casselberry, FL

Asset Description

Howell Branch Corners is a 14,765 square foot multi-tenant retail center with Starbucks outparcel located at the highly trafficked signalized intersection of SR 436 (Semoran Blvd) and Howell Branch Rd in Casselberry (Orlando MSA), FL. Unbeatable frontage on both SR 436 (Semoran Blvd) (400 feet) and Howell Branch Rd (365 feet) allows for exposure to nearly 30 Million vehicles that pass by the Property annually. The Property is a corner outparcel to the 248,683 SF Publix-anchored Casselberry Commons – a top 3% retail center in Florida by number of visits (Placer.ai).


The Seller is offering a 2-year Master Lease, which provides new ownership stabilized income while marketing the sole vacancy (includes a drive thru) with the potential to have income overlap from the Master Lease and the future leased up space. Additionally, there is a substantial value-add opportunity in increasing under-market rents for two tenants at the Property both expiring within the next 3.5 years (Alloy Fitness has one option), bringing the spaces up to market rent. Four of the Seven spaces (50%+ of the GLA) have been occupied at the Property for 10+ years conveying dedication by the tenants to the success of their individual businesses and that of the center’s. Casselberry has become a very attractive destination to the 1,500+ individuals moving to the Orlando area each week in search of top school districts and nearby staple retail centers like Howell Branch Corners.

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Attributes

Asking price
A$11,816,000
Cap rate
6.19%
Building area gross
1,372 m²
Occupancy
100%
Year built
2007
Land area gross
1.00 ha

Media

Investment Highlights

  • Located at the intersection of SR 436 (Semoran Blvd) (47,000 VPD) and Howell Branch Rd (32,000 VPD) – one of the most heavily trafficked signalized intersections in the Orlando area.
  • Four of the Seven spaces have been occupied by tenants at the Property for 10+ years. The center has been well-maintained and leased by long term users, coupled with the attractive direct visibility via frontage on both SR 436 (400 feet) and Howell Branch Rd (365 feet). 
  • The 2-year Master Lease allows for new ownership to capitalize on a fully occupied center while supplying ample time to find the ideal tenant(s) to backfill the remaining gray shell vacancy, while the NOI potential is still fully realized.
  • Corner outparcel to the Publix-anchored Casselberry Commons that features national credit tenants.

Contact brokers

Howell Branch Corners - Casselberry, FL (0 Properties)

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Last updated
12 Mar 2024