Maaco

6601 Old Cheney Hwy, Orlando, FL 32807

Description Graystone Capital Advisors has been exclusively engaged to present for sale the fee-simple interest in a single-tenant Maaco located in Orlando, Florida. The 6,670 square foot building is situated on 0.55 Acres. Over 12.5 years remain on an absolute net lease with zero landlord responsibilities. Due to the Absolute Net lease structure, this asset may qualify for accelerated depreciation. The lease also features attractive 1.5% annual rent bumps to hedge inflation. There are three, five-year options. The operator has been at the site since 2021 and has two other locations in the prominent central Florida markets of Ocala and Longwood. Maaco is the #1 auto paint and collision repair provider. They operate on a 95% franchise model and work closely with their franchises to ensure success. Situated on Old Cheney Highway, just off of E Colonial Drive (53,000 AADT) in East Orlando, the asset is nestled between other auto related uses, auto dealerships both new and used and a variety of other national retailers. Notable tenants nearby include Avis, Avis Car Sales, Dollar General, Race Trac, Classic Collision, CVS Pharmacy, McDonalds, Sam's Club, AutoZone, Advance Auto Parts, O'Reilly's., Sherwin Williams. Also in immediate proximity is Barry University's Dwayne O Andreas School of Law and Colonial High School. The Orlando Executive Airport is also less than 5 minutes away with Downtown Orlando only 15 minutes away. The surrounding area is densely populated with 309,885 residents live within a 5-Mile radius. Offered at an attractive 6.5% CAP Rate with annual 1.5% bumps further increasing yield, this Maaco positioned in the growing market of Orlando is an ideal investment opportunity. Orlando is the countrys 23rd largest metropolitan area in the United States and the 3rd largest MSA in the state. With a resident population of over 2.8 Million, Orlandos Population growth of 62% since 2000 significantly outpaces the major MSAs of Miami, Tampa, Jacksonville and the state of Florida. It is three times the growth rate of the U.S. over the same period. Orlando is the #2 metro for job growth in the U.S. (BLS, 2021) and #9 hottest housing market (Zillow, 2022). 1,000 people move to Orlando per week and the cost of living is slightly below the national average. As of January 2023, Orlandos unemployment rate was 2.3% after year-over year employment growth of 9.2%. Beyond the internationally known and thriving tourism industry, many major employers have large footprints in the area, such as tech industry heavyweights Electronic Arts and Verizon. Aerospace and aviation also drive growth in the region with innovative companies like Lockheed Martin leading the way. Orlando is poised for further growth as its trajectory continues with more and more companies in all sectors choosing to call Orlando home. Highlights

Contact

Broker or Owner Contact
Shannon Bona
,
Phone: (203) 592-4688
shannon.bona@graystoneca.com
ED Contact
Robert Collins
Orlando Utilities Commission
100 W Anderson St
Orlando, FL 32801
Phone: (407) 423-9100
rcollins@ouc.com

Building

Property ID 1064
Building Size 6670
Site Size (acres)
Zoning
Year Built
Number of Drive-In Doors
Number of Dock-In Doors
Clearance Height
Drive-in Doors no
Sprinklered no
Parking Ratio 0
Updated
Number of Parking Spaces
Parking no
HVAC

Pricing

For Sale yes
Sale Price 1538000
For Lease no
Lease Type
Lease Cost 0

Geographic and Infrastructure

Latitude 28.5643176
Longitude -81.2982423
County Orange County
Rail Access no

Utilities

Service to Property no
Electric Provider
Gas On Site no
Gas Provider
Water On Site no
Water Provider
Fiber Optics no
Telecom on Site no
Sewer On Site no
Sewer provider