Ground + Space announced today the sale of the Mount Dora Retail Strip, a multi-tenant property in Mount Dora, Florida. Mount Dora Retail Strip is a 6,912-square-foot retail site that features three tenants: Hand & Stone Massage and Facial Spa, Marco’s Pizza and Kay Jewelers. Ground + Space Principal Michael Zimmerman exclusively marketed the property and represented the seller, a Florida-based development company. The property sold within one percent of the original asking price for approximately $3.26 million.
This multi-tenant property is brand-new construction along U.S. Highway 441 within a larger development that includes ALDI and Panera Bread. The three tenants all have new NN leases with a mix of corporate and franchise guarantees. All three leases feature scheduled rental increases and options to renew. In addition, the tenants reimburse the landlord for expenses relating to roof, structure and parking lot maintenance.
The property benefits from its highly visible location across from both Walmart and Target, along with high traffic counts (over 41,500 cars pass the site daily). Mount Dora itself is located within Orlando’s sprawling metropolitan area, which boasts a population of more than 2.3 million. Mount Dora is less than one hour from downtown Orlando and the area’s world-class tourist attractions, including Walt Disney World, Universal Studios and SeaWorld.
About Ground + Space
Ground + Space is a net lease brokerage firm that leads with an emphasis on personalized relationships. Michael Zimmerman and team have curated a brokerage firm and investment sales platform focused on boutique amenities and down-to-earth service. Ground + Space is rooted in more than 20 years of experience aimed at providing the best data, relationships and success rates in the business. Interested in commercial real estate investment? Contact us today to find out more about our current listings!