Narcoossee Commons
Newly Constructed 6-Building ±55,396 SF Retail Property | NNN Leases With Stable Cashflow and Upside
Marketing description
RIPCO Real Estate is pleased to offer for sale Narcoossee Commons, a ±55,396 SF retail/service based property located on the west side of S Narcoossee Road in St. Cloud, FL. The property is comprised of six buildings spread across two separate parcels, built in phases between 2021 and 2025. The asset is currently 87.1% occupied by a mix of professional services, medical, and retail tenants. St. Cloud is experiencing rapid population growth, with an estimated population of approximately 71,000 residents in 2026, representing a nearly 20% increase since 2020 and an annual growth rate of about 4.6%, far outpacing the national average. This momentum follows a decade of significant expansion, as the population grew from roughly 35,000 in 2010 to nearly 59,000 by 2020, an increase of more than 67% in just ten years. Looking ahead, city projections indicate continued strong growth, with the population expected to reach approximately 108,000 by 2050 under current boundaries. This stretch of S Narcoossee Road where the property is located has an AADT of 38,000. Within 3 miles of Narcoossee Commons, there is a population of 32,760 and an average household income of $114,654.
The asset would be an attractive investment opportunity for investors seeking minimal landlord responsibilities and reduced capital expense exposure due to its recent construction. This offering is further strengthened by its location on Narcoossee Road, St. Cloud’s primary north-south thoroughfare, and its diverse mix of service, medical, and destination retail tenants.
Investment highlights
STABLE CASH FLOW
- Narcoossee Commons is a 34-unit, six-building, unanchored retail center spread across two separate parcels. The asset is 87.1% occupied by a diverse mix of professional service, medical, and retail tenants
- 29 of the 30 tenants have NNN leases, helping stabilize the cash flow by reducing landlord responsibilities at the property. Of the 30 occupied units, 26 units have leases with annual rent increases ranging from 2-5%, providing increasing NOI as a hedge against inflation
- The six buildings were newly constructed in 2021 and 2025, reducing the likelihood of large capital expenses in the near future
STRATEGIC LOCATION IN A HIGH GROWTH SUBMARKET
- The asset is located on S Narcoossee Road, a primary thoroughfare in St. Cloud, FL with an AADT of 38,000
- The city of St. Cloud’s population more than doubled from 2010 to 2025, with high residential and job growth exceeding the national average
- St. Cloud City Planning estimates continued expansion to approximately 108,000 residents by 2050
- Approximately 75,000 existing and upcoming residential units within the immediate area
- The property is located just outside Orlando, FL, less than 30 minutes from Orlando International Airport (MCO), 40 minutes to University of Central Florida (UCF), and 40 minutes to Disney World
STRONG DEMOGRAPHICS
- 32,760 population within a 3-mile radius
- $114,654 average household income within a 3-mile radius
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