Available For Sale - Retail

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AVAILABILITY DETAILS

Size
0 SF
Price/SF
Show Pricing $
Listing ID
SA450141
Notes
Marcus & Millichap is pleased to present the opportunity to acquire a brand-new Outback Steakhouse in Kissimmee, Florida. This Outback Steakhouse is a relocation store from a nearby unit. The property has a new 10-year, triple net lease and offers four, five-year renewal options. There are 10 percent rent increases every five years throughout the base term and option periods. The subject property is an outparcel to St. Cloud Commons Shopping Center which is anchored by Hobby Lobby, Marshalls, Ross, Old Navy, PetSmart, Five Below and Ulta Beauty.

The area has strong demographics with a population over 100,000 within a five-mile radius of the subject property. It is also located off Irlo Bronson Memorial Highway with a daily traffic count of 40,500 vehicles. The subject property is conveniently situated at the off ramp for Florida’s Turnpike with a daily traffic count of more than 68,000 vehicles. The property is in a high-traffic, busy retail area. In additional to St. Cloud Commons, surrounding national retailers include Walmart Supercenter, Home Depot, Publix, Aldi, Staples, Rent-A-Center, Planet Fitness, Bealls Outlet, Big Lots, Chili’s, Dunkin Donuts, Starbucks, Chick fil A, Pep Boys, Walgreens, CVS and many more. This Outback is one mile from a new, 20,000-square-foot AdventHealth Emergency Department and 35,000-square-foot Medical Office Building, both are currently under construction.

The subject property is part of the Orlando metro area, which is one of the largest and fastest growing areas in Florida with a population of more than 2.4 million residents. Tourism plays a major role in the area’s economy with Walt Disney World, SeaWorld Orlando and Universal Studios Orlando, all with in close proximity. Kissimmee is in Osceola County which is amongst the fastest growing counties in the nation, exceeding over 20 percent population growth in the last five years.
Uses
Retail

This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for you needs.

Listing provided courtesy of
Barry Wolfe, Wolfe-Lipsky Retail Group of Marcus & Millichap