Overview

Description

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a 100% occupied, 2-tenant investment property located in Kissimmee, Florida. The 2-tenant, Deca Dental Management, LLC and Mattress Firm, Inc., recently signed brand new 10-year NNN leases with 2 (5-year) options to extend, demonstrating their commitment to the site. Both leases feature 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The newly-constructed building features a state-of-the-art design with high-quality materials.

The property is strategically located along State Hwy 192 & 441 which averages over 48,000 vehicles per day. The site benefits from nearby direct on/off ramp access to the Florida Turnpike, a major thoroughfare serving the state of Florida averaging over 43,100 VPD. The subject property is ideally situated as an outparcel to St. Cloud Commons, a 190,000 SF center anchored by a Marshalls, Ross Dress for Less, Old Navy, and a Petsmart. Furthermore, the subject property is ideally located in a dense retail corridor with numerous nearby national/credit tenants including Walmart Supercenter, Publix, Advance Auto Parts, Dollar Tree, Dollar General, Pepboys Auto, Dunkin Donuts, and many more. In addition, the site benefits from close proximity to Orlando Health St. Cloud Hospital (84 Beds), further increasing consumer traffic to the site. The 5-mile trade area is supported by over 109,000 residents and 26,000 employees, providing a direct consumer base from which to draw. Residents with a 5-mile radius of the subject property have an average household income of $76,354. The current metro population of Kissimmee is 568,000, a 3.46% increase from 2021. Kissimmee has been growing relatively quickly at a rate of 61.6% since 2000 with a population density of 2,816 people per square mile.

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