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Apopka – SOLD

Property Information

Property Description Apopka Shoppes, a 10,000 SF multi-tenant retail center located in Apopka, FL. The newly built center is being offered with only 1 bay vacant while the remaining bays have new 5-20 year leases in place. All of the lease are NNN with annual rent increases. The center is anchored by Trustco Bank which just signed a new 20 year corporate guaranteed lease. Trustco Bank is a Four Star Bauer Financial rated bank with a net worth over $3.4B. Pizza Hut also leases space in the center bringing the total corporate guaranteed space to 34.25% of the GLA. Added income stability comes from a local dental practice which leases 21% of the GLA. Location Description:  The City of Apopka is located 12 miles or 15 minutes northwest of Orlando and encompasses an area slightly larger than 24 square miles. The city has a population exceeding 31,000 making it the second largest city in Orange County. With the continuing robust growth in population and local business development and expansion, the Apopka area proves to remain a vibrant target for investors. The city has vibrant, favorable demographics with median household incomes at $62,000 and a median age of 35 years old. The area is attractive to a younger family demographic because of its proximity to major employers and its abundance of recreational amenities. The newly completed 429 now links Apopka to Interstate 4 to the south. Zoning Description:  PD (Commercial/Office)

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