SHOPPES AT CHICKASAW
SIGNALIZED INTERSECTION | 42K+ TOTAL VPD | 7.78% PROFORMA CAP
Marketing description
Marcus & Millichap’s TC Retail Group is pleased to present a one-of-a-kind opportunity to acquire a multi-tenant retail center positioned directly at the signalized intersection of South Chickasaw Trail and Curry Ford Road, together with an adjacent 4.23-acre parcel zoned P-D (Planned Development). Located at 2708 S Chickasaw Trail in East Orlando, the offering includes a 13,776-square-foot retail center on approximately 2.05 acres and a combined site area of approximately 6.28 acres. The center is currently 81.74% occupied, providing immediate value-add potential through the lease-up of the remaining vacant suites, while the additional land offers flexibility for future development, expansion, or long-term appreciation.
Current net rents average approximately $14.85 per square foot, significantly below overall market rents of $31.22 per square foot according to CoStar. This substantial rent differential creates meaningful long-term upside as leases renew, spaces are repositioned, and vacant suites are leased at higher rental rates. Several tenants also have 3% to 4% annual rent increases, supporting continued revenue growth. The surrounding retail submarket maintains a low vacancy rate of just 2.3% according to CoStar, further supporting tenant demand and the potential for successful lease-up.
The property benefits from approximately 42,700 vehicles per day at the intersection of South Chickasaw Trail and Curry Ford Road, providing strong visibility, convenient access, and consistent exposure to surrounding residents and commuters. The site is located near established residential communities, Valencia College, UCF, and numerous national retailers and service providers, reinforcing the strength of the surrounding East Orlando trade area.
Investment highlights
•Significant Value-Add Through Lease-Up: The retail center is currently 81.74% occupied, providing immediate upside through the lease-up of two vacant suites at projected market rental rates.
•Attractive Pro Forma Cap Rate: The property offers a projected 7.78% pro forma cap rate, supported by the lease-up of the vacant suites and continued growth of the in-place rental income.
•Additional 4.23-Acre Commercial Parcel Included: The offering includes a substantial 4.23-acre parcel directly behind the retail center, providing an investor with additional development, expansion, or long-term land appreciation potential.
•Significant Below-Market Rent Opportunity: Current net rents average approx. $14.85 PSF, compared to overall market rents of $31.22 PSF according to CoStar, providing additional immediate upside from several current MTM leases.
•Tight Retail Market Fundamentals: The property benefits from a highly occupied retail submarket with a current vacancy rate of just 2.3% according to CoStar, supporting the potential for continued tenant demand, successful lease-up, and future rent growth.
•6.28-Acre Combined Offering: Together, the existing retail center and adjacent land comprise approximately 6.28 acres, offering a rare combination of in-place income and future development flexibility within the established East Orlando market.
•Built-In Rent Growth Across the Tenant Roster: Several tenants are subject to 3% to 4% annual rent increases, providing contractual revenue growth and an additional hedge against inflation throughout the investment period.
•High-Traffic East Orlando Location: Positioned on the signalized intersection of South Chickasaw Trail and Curry Ford Road, the property benefits from combined traffic counts of approximately 42,700 vehicles per day, providing strong visibility, convenient access, and consistent exposure to surrounding residents and commuters.
•Dense East Orlando Retail Surroundings: The property is located near prominent retailers and service providers including, Walmart, Key Food, Dollar Tree, Domino’s, Circle K, BP, and multiple financial and medical businesses, reinforcing the strength of the surrounding trade area.
•Strong Surrounding Demographics: The property benefits from an average household income of approximately $89,618 within a five-mile radius, supporting continued demand for neighborhood retail, dining, and service-oriented businesses.
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