12975 Park Boulevard, Seminole, Florida, USA

Seminole, Florida

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Total Square Feet

±66,656 SF

Total Acreage

±7.98 Acres

Asking Price

$9,624,000

CAP Rate

6.00%

Aldi recently signed an 11-year, early lease extension providing nearly 14 years of term remaining for the anchor tenant
Aldi carries its own roof and exterior under a NNN lease structure, leaving a management-light asset with no anchor capital exposure
A corporate guaranty from Aldi, Inc. stands behind 90% of the center’s rent, so the income does not ride on a single store’s performance
Aldi took assignment from Winn-Dixie and funded an approximately $2 million subdivision and renovation of the store
The 5,000 square foot in-line suite runs month-to-month with no remaining options, giving the Landlord full control to reset rent or re-tenant
In-place rent of $11.79 PSF on the in-line suite sits 26% below market rents, providing upside through re-leasing the space
Park Boulevard frontage carries 53,000 vehicles per day past the center
Average household income within one mile is $152,628, a spending base that supports grocery and service tenancy