Orlando, FL

Price: $ 3,168,000
CAP Rate: 6.25%
NOI: $ 198,000
Lease Term Remaining Before Options: 2 Years 4 Months
Investment Highlights
  • Vacation and resort destination location including Disney World, Universal Studios & Island of Adventure and SeaWorld.
  • Retail corridor near industrial sector including 7.8 million square feet of retail space in a 3-mile radius.
  • Within 5 miles of 14.4 million square feet of industrial space.
  • 2.7 miles east of Orlando Health - Health Central Hospital, a 252-bed hospital on 82-acres with 2,000 staff.
  • Next rental increase in February 1, 2026 and rent will increase 5% from $198,000 to $207,900.
  • Infill Orlando demographics with a population of 258,734 with an average household income of $75,385 within a 5-mile radius.
  • Major regional employers Walt Disney World, Advent Health, Universal Orlando and Orlando Health.
  • Intersection with high traffic count of over 69,000 vehicles per day.
Offering Summary

Pharma Property Group is pleased to market for sale the CVS property located at 7665 West Colonial Drive in Orlando, Florida (the “Property”). CVS exercised their first option in 2021 with a lease featuring below market rents of $17.44 per square foot. The lease also includes ±5% rental increases at every option period with the next increase scheduled for March of 2026. CVS has a 22-year operating history at this location on an absolute net lease with no landlord responsibilities.

H Mart, the largest U.S based supermarket chain specializing in Asian groceries, will be opening their first Florida location in the same center adjacent to the Property. This center is complemented by major nearby tenants such Walmart, Sam's Club, Home Depot, Burlington, Marshalls and Ross. Located just two and a half miles west is the West Oak Mall with 780,000 square feet of retail space. The Property is located on the hard corner of West Colonial Drive (Hwy 50), a main east/west thoroughfare through Orlando with a combined daily traffic count of over 69,000 vehicles per day. The Property is surrounded by ±91,500 households within a 5-mile radius such as the Residence at West Place, a 342 unit apartment complex directly across the street.

Orlando is a mecca for tourism which had announced 74 million visitors in 2022, with major destinations such as Walt Disney World Resort (50 million annual visitors), Universal Studios and Island of Adventure (20 million annual visitors), and SeaWorld Orlando (4.4 million annual visitors).

Price: $ 3,168,000
CAP Rate: 6.25%
NOI: $ 198,000
Lease Term Remaining Before Options: 2 Years 4 Months