Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A

Documents

I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. Approval for Deal Room access requires review by our Broker Team. You will be notified by email once your access is granted. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.
I accept the confidentiality agreement I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Attributes

Year Built 2000
Building Area
Occupancy 92.0 %

Property Description

Excellent Road Frontage and Connectivity - With direct frontage, a prominent multi-tenant pylon sign and two access points along John Young Parkway (45,500 VPD) and access to Irlo Bronson Memorial Highway (47,000 VPD) just over 0.2 miles south, the Property benefits from superior connectivity to two of the area’s most heavily trafficked roads.

Investment Highlights

  • Click on Link to register: https://www.ten-x.com/commercial/listing/1251-1263-west-columbia-avenue-kissimmee-fl-34741/1000013318/
  • Top Performing, High Growth Orlando MSA - With a resident population of nearly 2.7 million, Orlando’s population growth of 61.5% since 2000 outpaces that of Miami, Tampa, Jacksonville, and is three and a half times the growth rate of the U.S. over the same period. Driven by Florida’s leading economy, the Orlando MSA is expected to continue to outpace the state and national average over the next five years, with projected growth of 7.9%.
  • Orlando – Worldwide Tourist Mecca - Orlando is the #1 most visited city in the U.S. with 75 million visitors in 2018, an all-time U.S. record. Further, Orlando Airport is the busiest airport in Florida and 10th in the U.S. with 47 million passengers. Orlando has six of the 15 most visited theme parks in the World and the 2nd busiest convention center in the U.S.
  • Committed Grocery Anchor with Low Occupancy Cost – Publix has been a tenant at the Property for nearly 20 years and just recently exercised their first 5-year option. Further, Publix reported 2019 sales result in a low 2.5% occupancy cost and bring their sales growth since 2000 to nearly 21%.
  • Significant Upside Potential via Lease-Up - Build off the nearly 11,000 SF of new leases signed since 2017 in order to backfill the remaining 4,800 SF of vacant space. Additionally, all shop tenants under 4,800 SF expire with either no options or options at fair market value and are on average 14.7% below market.
  • Secure Income Stream - 56% of Total Revenue and over 67% of GLA at the Property is attributed to Publix, which has been a Tenant at the Property for nearly 20 years and recently exercised their first 5-year option, further solidifying Tenant’s commitment to this location and providing long-term income security.
  • Internet Resistant Tenancy Mix - 100% of the leased GLA is comprised of internet proof tenancy, promoting in-person visits to the Property.
  • Below Replacement Cost Pricing - The Property is expected to yield an extremely favorable price relative to replacement cost.
Last Updated Date: 25 Aug 2020
Brad Peterson
Brad Peterson
Senior Managing Director, Orlando Office Head
License details
FL-BK3162030 AL-000088844-0 GA-256948 NC-323216
Whitaker Leonhardt
Whitaker Leonhardt
Senior Director, Capital Markets
License details
FL-SL3221137

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Last Updated Date: 25 Aug 2020

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