14,668 SF OFFICE / RETAIL INVESTMENT 890 N State Road 434 Bureau 1 363 m² À vendre Altamonte Springs, FL 32714 2 847 715 € (2 089,76 €/m²)

WELL-LOCATED 14,668 SF TWO STORY OFFICE / RETAIL INVESTMENT FOR SALE
890 N SR 434, ALTAMONTE SPRINGS FL 32714
SAND LAKE PROFESSIONAL CENTER
#092129300020B0000
The investment property at 890 S. SR 434 includes a modern office building that is presently leased to a primary anchor tenant utilizing the entire second floor and to a smaller tenant using a smaller first floor suite. The 14,668 SF two story office building is located on a 1.55-acre parcel in a well-known Altamonte Springs, FL location at the corner of SR 434 and Sand Lake Road across SR434 from the Jamestown Shopping Center. The Lake Brantley High School Campus is located directly across Sand Lake Road to the north. Throughout its history the building has housed a number of professional firms and corporate business offices providing services to residents and the business community of the cities of Altamonte Springs and Longwood and nearby established, Seminole County residential neighborhoods.
The attractive office building was constructed in 1983 and has been carefully maintained and updated since. The building has recently undergone substantial improvement, including interior remodeling and the installation of a new roof and HVAC equipment. The elevator and building systems have been professionally serviced. The office property offers tenants a modern décor, secured gated entries, high-end amenities, break and open areas, and a comfortable working environment. The combined parcels in the office and retail site provide ample parking and an attractive, client/customer friendly setting.
The property is within a small commercial development which includes the subject property and an adjacent retail building. Surrounding and nearby properties are commercial. There are no other structures on the subject parcel and there are two entrances to the surrounding parking areas from SR434 and from Sand Lake Road.
The site is approximately one mile north of the high-traffic intersection of SR 434 and SR 436 and approximately two miles west of the interchanges of SR 434, SR 434 and I-4. The site provides easy access to the cities of Longwood, Altamonte Springs, Seminole County and the Greater Orlando Metropolitan area. The property is located within incorporated Altamonte Springs. The modern, professionally maintained facility and creditworthy tenancy of the primary tenant position this asset as an attractive,
long-term investment opportunity for private or institutional investors or family offices.
Additionally, an owner-user, utilizing all or portions of the first floor, would find this to be an attractive combination working environment / investment opportunity.
Financial Overview - The primary tenant representing 50% of the building has multiple years remaining on its lease at a market rent of $18.06 PSF. The second tenant is on a short-term lease. The primary tenant has lease extension options. The leases are full service. Operating expenses, including utilities, repairs, property tax and insurance are moderate and are expected to total $98,495 for 2026.
Value Add Potential - There is opportunity for value-add in this investment which include but are not limited to; increasing the occupancy of the first floor, improving the rent rates, establishing passthroughs of a portion of the operating expenses and repositioning all or a portion of the first floor for medical or retail use.
Ideal professional office tenants include institutional and corporate tenants, business professionals, law firms, banking, accounting and financial services, government agencies, and a broad array of primary and specialized medical care and out-patient care, health clinics, surgery centers and related health care services.
The Future Land Use is Commercial/ Office which allows the repositioning of the 7,472 square foot first floor for retail use. The clear height of the first floor is presently ten feet and can potentially be increased in sections to thirteen feet. The first floor can be divided into multiple retail suites allowing for a wide variety of uses such as retail stores and services, personal services, spas, specialty gyms and athletic services, restaurants, food services, and entertainment.
The combination of a quality anchor tenant, the easily accessible and established location, the general good condition of the building and property, the opportunity for value-add improvements, and the possibility of converting a portion of the building to retail uses present a compelling investment opportunity with considerable upside and
potential stability. Price - $3,250,000