Tesla Sales, Service, & Delivery

61,000 SF | 4-Star Retail Building | Clermont, FL 34711 | For Sale | 5.50% Cap Rate

Date Added:
May 17, 2024
Days on Market:
28 days
Property Type
Retail
Square Feet
61,000 SF

Listing Contacts

Putnam Daily
Putnam Daily
Verified Profile
Lindsey Snider
Lindsey Snider
Verified Profile
  • Property Info

Property Overview

The property is an ideal site for a Tesla Sales, Service, & Delivery Center in line with the company’s site selection criteria. The property benefits from a prominent “auto row” location in close proximity to other auto dealerships, which Tesla has found increases both traffic and sales to their locations. The property is ideally situated to serve the greater Orlando and Lake County markets with excellent access to major arterials. Florida remains one of the largest markets for electric cars in the U.S.
The subject property is prominently located with excellent access and visibility adjacent to the SR-50 arterial (39,746 AADT) in close proximity to its junction with Florida’s Turnpike (102,500 AADT). The site benefits from robust demographics with a population of 107,221 and annual growth rate of 2.59% within a 5 mile radius. Average household income within 10 miles of the site is $123,490.
The site benefits from a strategic location neighboring other auto dealerships, retail centers, and more. Nearby car dealerships include Toyota of Clermont, CarMax, Hyundai of Central Florida, Reed Nissan Clermont, Napleton Clermont Chrysler Jeep Dodge, Headquarter Mazda, Kia of Clermont, Headquarter Honda, and more. Major retail tenants in the surrounding area include Publix, Rooms to Go, Target, Petco, ALDI, Walgreens, TJ Maxx, At Home, Winn-Dixie, Home Depot, and more. The property is located approximately 3 miles from Orlando Health South Lake Hospital, one of Clermont’s largest employers, and approximately 2.5 miles from Lake-Sumpter State College’s South Lake Campus, which serves more than 2,000 students.
Clermont (population 47,076) is the largest city in Lake County, located approximately 20 miles from Orlando. Orlando (population 312,280) is the seat of Orange County and a principal city of the Orlando-Kissimee-Sanford Metropolitan Statistical Area (population 2,764,182), the fifth-largest MSA in the southeastern U.S. The city is known as the “Theme Park Capital of the World,” and is home to seven of the ten most-visited theme parks in the U.S., including Walt Disney World, Universal Studios, SeaWorld, and more. Orlando is one of the largest tourist destinations in the U.S., drawing upwards of 74 million visitors annually with an economic impact exceeding $54 billion per year.
This property is listed in conjunction with Florida-licensed real estate broker Thomas Dixon.

Property Details

Class
B
Year Built
2023
Stories
1
Property Subtype
Vehicle Related

Highlights

  • Corporate Lease to Tesla, Inc. (NASDAQ: TSLA)
  • Rare Long-Term Lease Structure with Scheduled Increases
  • Mission-Critical Location Less than 20 Miles from Downtown Orlando
  • Large 9.8 Acre Lot on Highway 50 with Expanded Parking Area and Monument Sign
  • Tesla was Raised to Investment Grade Status Baa3 by Moody’s in March 2023 & S&P Global Investment Grade Rating of BBB in October 2022
  • Excellent Access to West Orlando Market Via Florida Turnpike and 429 Expressway

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