CYPRESS PLAZA
7.63% YR 1 CAP | $180 PSF | RETAIL & FLEX USE
Marketing description
Marcus & Millichap's TC Retail Group is pleased to present the opportunity to acquire this fully lease multi tenant retail center in the heart of Kissimmee, FL. Offered at $180/SF with a 7.63% Year 1 CAP. Currently operated under Gross lease structures, providing value-add through conversion to NNN leases over time.
Average net rents currently at $13.76/SF, with average market rents at $31.32 (According to CoStar). This provides a clear opportunity for future rent growth and improved expense recovery.
Strategically located just off W Vine St (US-192), one of Kissimmee’s primary commercial corridors. The location offers convenient access to John Young Parkway, Osceola Parkway, Florida’s Turnpike, I-4, and the greater Orlando MSA.
The surrounding area is supported by major employers, national retailers, schools, healthcare providers, and dense residential neighborhoods, including proximity to HCA Florida Osceola Hospital and Kissimmee Gateway Airport. The property is further supported by strong demographic growth, with approx. 228,355 residents within a five mile radius, projected to increase to 246,866 by 2030.
Combined with full occupancy, below-market rents, and the ability to improve lease structure, 201 W Cypress St presents a stable in place asset and a clear place for long term income growth.
Investment highlights
•Value-Add Opportunity Through Lease Conversion: All current tenants are operating under gross leases, creating a clear path for future NOI growth through converting leases to NNN.
•Individual Condo Units: The property is compromised of 10 individual condo units providing investors with added flexibility for future ownership structure.
•Attractive Entry Point Below Replacement Cost: Offered at approximately $180/SF, the Property presents an attractive entry point for a fully occupied multi-tenant industrial/flex asset in the growing Kissimmee market.
•Ample On-Site Parking: The property offers ~60 parking spaces, providing convenient access.
•Flex Use Potential: Select units are equipped with roll-up doors, providing added functionality for tenants.
•Additional Upside: Current Net rents sit at $13.76/PSF vs. Market $31.32 PSF (Per CoStar).
•Strategic Central Kissimmee Location: Positioned just off W Vine Street (US-192), one of Kissimmee’s primary commercial corridors with traffic counts exceeding 46,000 VPD, offering excellent accessibility.
•Strong Regional Connectivity: The Property benefits from immediate access to US-192, John Young Parkway, Osceola Parkway, Florida’s Turnpike, and Interstate 4, allowing convenient access throughout the greater Orlando MSA.
•Proximity to Major Employers & National Retail: The Property is surrounded by major employers and retail demand generators including HCA Florida Healthcare, Kissimmee Gateway Airport, national retailers, schools, and dense residential communities supporting long-term tenant demand.
•Strong Demographics: The Property is positioned within a rapidly growing Central Florida trade area featuring approximately 228,355 residents within a 5-mile radius, projected to increase to 246,866 residents by 2030.
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