Maaco

6601 Old Cheney Hwy, Orlando, FL 32807

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.

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