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Kissimmee Retail, Kissimmee, FL

Kissimmee Retail

Kissimmee, Florida

Price $5,014,000
Cap Rate 5.50%
NOI $275,760
Lease Term Various
Lease Type Net Leases
Rental Increases Various
Year Built 2020
Building Size 6,236 SF
Lot Size 1.16 Acres (50,530 SF)
Status Available
Lead Broker Information Vincent Aicale
Executive Managing Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Executive Managing Director
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Michael T. Yuras, CCIM
Vice Chairman
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Executive Managing Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Investment Highlights

100% LEASED MULTI-TENANT AMAZON-PROOF RETAIL ASSET
» 100% leased multi-tenant “Amazon-proof” asset to Wingstop, Mediterranean Grill & Pizzeria, and Sapporo Ramen Takumi
» Scheduled rental increases provide a hedge against inflation
» 10-year net lease to Wingstop with a strong guaranty
» 10-year net lease to Sapporo Ramen Takumi
» 20-year net lease to Mediterranean Grill & Pizzeria

POPULAR TOURIST AREA NEAR WALT DISNEY WORLD
» Prime location near popular tourist attractions such as Walt Disney World® Resort (the largest employer in the Orlando MSA, with over 58,478 employees), Ship Wreck Island Water Park, Island H2O Water Park, and more
» Centrally located near numerous hotel accommodations, vacation resorts, and RV campgrounds, providing a large customer base in the immediate area for the site
» U.S. Highway 192/West Irlo Bronson Memorial Highway provides immediate access to World Drive, the main north-south road in Disney World

HIGH TRAFFIC LOCATION IN DENSE RETAIL CORRIDOR
» Located just off the signalized intersection of U.S. Highway 192/West Irlo Bronson Memorial Highway and Sherberth Road, with excellent and access to 90,300 vehicles per day
» Walking distance from Galleria Palms Hotel, ette hotel, Walt Disney World – Maingate Office, Wyndham Orlando Resort & Conference Center Celebration Area, and Tesla Charging Station
» Located in a dense retail corridor, with proximity to major national tenants, such as Walmart Supercenter, CVS, IHOP, Red Lobster, Popeyes Louisiana Kitchen, McDonald’s, Wendy’s, Starbucks, Dunkin’, Taco Bell, and many others
» 46,936 residents within a five-mile radius with an average annual household income of $99,188 within three miles (projected to increase 13 percent by 2027)
» Beneficial proximity to Orlando International Airport (40.3 million annual passengers in 2021) situated within a two-hour drive of 60% of Florida’s population, with access to more than two million residents in Metro Orlando, a tri-county area encompassing 2,538 square miles
» Gateway to Orlando, the fourth most populous city in Florida and most visited city in the state (59.3 million annual visitors in 2021)


Property Description

» The multi-tenant building is strategically located just off the signalized intersection of U.S. Highway 192/West Irlo Bronson Memorial Highway and Sherberth Road, with excellent visibility access to 90,300 vehicles per day, with U.S. Highway 192 providing immediate access to World Drive, the main north-south road in Disney World
» Sherberth Road is the westernmost public access road to the Walt Disney World Resort and the property benefits from its proximity to Walt Disney World, which covers 27,000 acres, an area twice the size of Manhattan
» The property is in a prime location near popular tourist attractions such as Walt Disney World® Resort (the largest employer in the Orlando MSA, with over 58,478 employees), Ship Wreck Island Water Park, Island H2O Water Park, and more and is centrally located near many other hotel accommodations, vacation resorts, and RV campgrounds, providing a large customer base in the immediate area for the site
» Disney World houses 32 resort hotels, nine non–Disney hotels, four theme parks, two water parks, several golf courses, a camping resort, and other entertainment venues. The resort is the flagship destination of Disney’s worldwide corporate enterprise and is the most visited vacation resort in the world, with an average attendance of nearly 60 million people annually. Additionally, Disney World is the largest employer in the Orlando MSA with 58,478 employees
» Due to its proximity to Disney World, the property is well positioned in a highly trafficked tourist area with many retail, lodging, and entertainment options nearby such as Walmart Supercenter, CVS, IHOP, Red Lobster, Popeyes Louisiana Kitchen, McDonald’s, Wendy’s, Starbucks, Dunkin’, Taco Bell, and numerous others
» The location maintains beneficial proximity to Orlando International Airport (40.3 million annual passengers in 2021) and is 23 miles from Downtown Orlando, the fourth most populous city in Florida and most visited city in the state (87,200 jobs, 59.3 million annual visitors in 2021)

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