Introducing a unique and exciting investment opportunity in the vibrant heart of Orlando's Mills 50 District – an established restaurant with real estate situated at the coveted corner of East Colonial Drive and North Thornton Avenue.
This restaurant boasts a generous Gross Leasable Area (GLA) of 8, 163 square feet, making it an expansive and versatile space for culinary endeavors. Currently operating as an owner-operated authentic local cuisine restaurant, it has garnered a loyal customer base over the years, known for its delectable offerings and warm ambiance.
The financials of this investment opportunity are equally enticing. With a Net Operating Income (NOI) of $212, 800 and a Capitalization Rate (CAP rate) of 5. 6%, this property promises a steady and impressive return on investment. The restaurant's strong financial performance is a testament to its enduring popularity and excellent management.
One of the standout features of this property is its prime location. Positioned at the corner of East Colonial Drive, this restaurant enjoys a commanding 125 feet of frontage exposure, allowing it to capture the attention of the 35, 000 vehicles passing by daily. This high-traffic location not only ensures a steady flow of potential patrons but also makes it an ideal spot for a future owner-occupied user or a dynamic redevelopment project in this thriving area.
The Mills 50 District, where this restaurant is located, is renowned for its eclectic blend of creativity and culture. It stands as one of Orlando's most sought-after neighborhoods, known for its welcoming embrace of new concepts and independent retail and restaurant ventures. In this vibrant community, innovation and diversity flourish, creating a dynamic environment that attracts residents and visitors alike.
Whether you're an experienced restaurateur looking to capitalize on the restaurant's established success or a visionary developer seeking to shape the future of this dynamic neighborhood, this restaurant and real estate offer an exceptional opportunity. Don't miss the chance to be part of the ever-evolving culinary and cultural landscape in Orlando's Mills 50 District. This is more than an investment; it's an invitation to become part of a thriving community. Act now and make this exceptional property your own.
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William Raveis Real Estate
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Contact@raveis.com
RVP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 917.838.7300
Melissa.Cohn@raveis.com
NMLS Mortgage Loan Originator ID 16953
5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
---|---|---|---|
Loan Amount | $3,040,000 | $3,040,000 | $3,040,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 7.250% | 7.000% | 6.875% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.851% | 7.103% | 7.041% |
Monthly Tax Payment | $2,296 | $2,296 | $2,296 |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $20,738 | $20,225 | $27,112 |
Total Monthly Payment | $23,159 | $22,646 | $29,533 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.