Shoppes of West 192 8085 W Irlo Bronson Memorial Hwy Kissimmee, FL 34747 Orlando MSA - LoopNet
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Shoppes of West 192
8085 W Irlo Bronson Memorial Hwy
Kissimmee, FL 34747
Orlando MSA
TOUFIC SIMAAN DANNY SEMAAN
President Sales Associate
(407) 261-4404 (407) 595-9697
tsimaan@simaanre.com danny@simaanre.com
TABLE OF CONTENTS
RETAIL AERIALS 3
EXCLUSIVELY LISTED BY MARKET AERIAL 5
TOUFIC SIMAAN
President INVESTMENT SUMMARY 7
(407) 261-4404
tsimaan@simaanre.com
FINANCIAL SUMMARY 8
DANNY SEMAAN
Sales Associate
(407) 595-9697
danny@simaanre.com AREA OVERVIEW 9
SITE AERIALS 12
The information provided herein is strictly confidential and is intended only for
review by the party receiving it from Simaan Real Estate. The information
provided herein should not be made public, or available, to any other party
without the express written consent of Simaan Real Estate. No warranty
expressed or implied has been made as to the accuracy of the information
provided herein, no liability assumed for error or omissions.
© 2021 Simaan Real Estate, LLC
NE
35-acre mixed use project
under construction.
320 luxury apartments,
Over 4,500 timeshare units
and ±12,000 visitors per day
SITE entertainment, and retail
187 room hotel and
1,200 vacation homes
RETAIL AERIAL 3
S
324 unit
multi family
187 room hotel and
1,200 vacation homes
SITE
35-acre mixed use project
under construction.
320 luxury apartments,
entertainment, and retail Over 4,500 timeshare units
and ±12,000 visitors per day
RETAIL AERIAL 4
SITE
Restaurant Sales 2x-3x national averages in corridor.
Over 60,000 vacation units within 5 miles.
Minutes away from Horizon West - 2nd fastest growing
master-planned community in the U.S. in terms of
residential starts.
Horizon West accounts for more than 50% of residential
permits in Orange County.
MARKET AERIAL 5
Simaan Real Estate is pleased to exclusively offer for sale a 100% fee
simple interest in Shoppes of West 192, a four-tenant retail strip center and
INVESTMENT
a long-term NNN ground lease Red Robin restaurant, strategically located
on West 192, in close proximity to Walt Disney World®, the world’s most
visited theme park destination, Margaritaville, numerous timeshare resorts
and vacation rentals, and South of the Horizon West master planned
SUMMARY
community. The property was built in 2018 featuring best-in-class
architectural design by Cuhaci & Peterson, excellent exposure on West 192,
convenient ingress/egress, and cross access to the full access traffic signal
shared with the Publix shopping center and Super Target anchored power
center.
Shoppes of West 192 represents a unique opportunity to acquire a 100%
occupied, best-in-class retail asset with NNN leases and minimal landlord
obligations in one of the strongest performing retail submarkets in Central
Florida. All leases have favorable scheduled rent increases providing an
inflation hedge.
INVESTMENT SUMMARY 6
PROPERTY OVERVIEW OFFERING HIGHLIGHTS
Newly Constructed & Stable Income Stream: Built in 2018
ADDRESS 8085 W. Irlo Bronson Memorial Hwy with long-term NNN leases, minimal landlord
interactive map Kissimmee, FL 34747 responsibilities and 20-year NDL Firestone roof warranty.
PRICE: $9,065,000 Scheduled Rent Increases: Throughout primary terms and
option periods.
CAP RATE: 5.50% Exponential Population Growth: 3-Mile Population
Growth: 407.53%; 5-mile Population Growth: 153.20%
NOI: $498,593 (2010-2021)
High-Traffic Location in Dynamic Retail Corridor: 62,000
OCCUPANCY: 100% vehicles per day with convenient ingress/egress and cross
access to a signalized intersection.
LEASE STRUCTURE: NNN
Close Proximity to Disney World and Over 60,000 Tourist
Rental Units: Captured audience driving high restaurant
YEAR BUILT: 2018 sales volume and retail traffic (2x-3x national averages) —
West 192 is a dominant retail node, coveted by restaurant
BUILDING SIZE: ±13,128 SF chains and national retailers.
Directly Across Margaritaville: Mixed-use development
LOT SIZE: ±2.31 Acres with 1,200 upscale homes, $40 Million beach & water
park, projecting 1 Million annual guests, and adjacent to
OWNERSHIP TYPE: Fee Simple Waterstar, a 35-acre mixed use project with 320 luxury
apartments, entertainment venues, and retail.
INVESTMENT SUMMARY 7
FINANCIAL
SUMMARY
INCOME & EXPENSE SUMMARY
In-Place 2023 Pro
Income Per SF NOI Forma NOI1
Base Rent $38.97 $511,535 $556,834
Expense Reimbursements $7.94 $104,242 $151,832
Effective Gross Income $620,591 $708,666
Operating Expenses
CAM $2.03 $26,615 $26,615
RE Tax $5.20 $68,311 $115,901
Insurance $0.60 $7,858 $7,858
Management $1.10 $14,400 $14,400
Total Expenses ($8.93) ($117,184) ($164,774)
Net Operating Income $498,593 $543,892
CAM Drilldown
Per SF Annual
Utilities $ 0.76 $ 10,026
Trash $ 0.43 $ 5,703
Landscaping $ 0.55 $ 7,190
Maintenance & Service $ 0.28 $ 3,697
Total CAM $ 2.03 $ 26,615
Notes: (1) 2023 Pro Forma NOI includes all scheduled rental increases, effective 8/1/23, at 100% occupancy. Real estate taxes are estimated based
on millage rate and assessed value at 80% of sale price.
FINANCIAL SUMMARY 8
AREA KISSIMMEE, FLORIDA
Kissimmee is a city located in Osceola
County, Florida, South of Orlando and 25
Orlando’s economy has been recovering
faster than other metros in Florida, and
OVERVIEW
minutes from Orlando International Airport. significant investments are currently being
Branded as the Vacation Home Capital of made to expand the metro’s driving tourism
the World® with more than 70,000 industry. All of the major theme parks in the
accommodation options, including 50,000 area currently have significant expansion
vacation homes, Kissimmee is an projects underway, which should allow the
accessible gateway to world-famous theme industry to realize strong visitor growth for
parks, including Walt Disney World Resort, the next few years. The University of Central
Universal Orlando Resort, Seaworld Orlando Florida is also emerging as an economic
and Legoland Florida. engine.
The City serves as a regional retail and Tourism, and the tax revenue generated
commercial trade area with multiple from it, enables substantial infrastructure
economic drivers including tourism, investment that further enhances the quality
employment centers, and tremendous of life. The region provides a rich lifestyle
residential growth. Major employers for residents through cultural opportunities,
include the Walt Disney Company, Walmart, arts, fashion, music, amateur and
Publix Supermarkets, AdventHealth, professional sports, favorable weather and
Gaylord Palms Resort & Convention Center, abundant recreational activities. From a
School District of Osceola County, Valencia brand new performing arts center and MLS
College, Tupperware Brands, and PepsiCo. stadium to a renovated Camping World
Stadium, Orlando is also home to the
Amway Center, named among the nation’s
top sports venues.
ORLANDO MSA After leading the nation in population & job
Orlando is the #1 most-visited destination in growth, Orlando is attracting some of the
the U.S. with a record-setting 75 Million biggest names in the business, creating
annual visitors. Home to seven of the thousands of high-wage, high-tech jobs in a
world’s top theme parks, Orlando is the region traditionally known for tourism.
Theme Park Capital of the World®. Even Recently named one of the nation’s most
though Orlando is known for tourism and cost-competitive locations, Orlando is an
hospitality, more than two-thirds of its emerging tech and startup hub and Florida's
workforce spans across life sciences and friendliest metro for small businesses.
healthcare, innovative technologies, While Orlando is renowned worldwide for
advanced manufacturing, and more. While its tropical climate and relaxed lifestyle, the
tourism accounts for roughly one-third of region also is one of the top 10 locations in
this MSA's economy- led by Walt Disney the country for business. From corporate
World, SeaWorld Orlando & Universal headquarters to regional distribution
Orlando- this pro-business city also knows centers, from product manufacturing to high
how to provide white glove service to tech research, the region of Orange,
welcome companies around the world to Seminole, Osceola and Lake Counties and
take the country's second spot as a trade- the City of Orlando spans a dynamic
show destination. economic spectrum.
AREA OVERVIEW 9
AREA DEMOGRAPHICS
OVERVIEW
Population 1 Mile 3 Mile 5 Mile
2026 Projection 1,282 27,291 85,273
2021 Estimate 1,060 22,707 72,338
2010 Census 180 4,474 28,570
Growth 2021 - 2026 20.94% 20.19% 17.88%
Growth 2010 - 2021 488.89% 407.53% 153.20%
Daytime Employment 5,109 13,053 33,748
Households
2026 Projection 421 9,289 30,609
2021 Estimate 350 7,785 26,163
2010 Census 65 1,731 11,139
Growth 2021 - 2026 20.29% 19.32% 16.99%
Growth 2010 - 2021 438.46% 349.74% 134.88%
Owner Occupied 47.71% 51.43% 55.77%
Renter Occupied 52.29% 48.57% 44.24%
Household Income
2021 Avg. HH Income $67,655 $72,700 $78,477
2021 Median HH Income $57,321 $58,792 $60,066
Demographic data © 2021 by CoStar
AREA OVERVIEW 10AREA 2021 CONSUMER SPENDING
Annual Spending ($000s) 1 Mile 3 Mile 5 Mile
OVERVIEW Total Food and Alcohol
Food At Home
Food Away From Home
$2,878
1,576
1,130
$64,776
34,883
25,879
$218,514
115,663
88,907
Alcoholic Beverages 173 4,014 13,943
Total Entertainment & Hobbies $1,401 $32,452 $113,100
Entertainment 148 3,319 10,323
A/V Equip./Service 368 8,344 28,546
Reading materials 14 351 1,284
Pets, Toys, & Hobbies 209 4,975 18,063
Personal Items 661 15,463 54,885
Total Apparel $571 $12,707 $42,587
Women’s Apparel 212 4,773 16,215
Men’s Apparel 114 2,562 8,542
Kid’s Apparel 103 2,251 7,525
Footwear 142 3,120 10,306
Total Health Care $483 $11,111 $38,838
Medical Services 268 6,186 21,624
Prescription Drugs 160 3,680 12,901
Medical Supplies 54 1,245 4,313
Demographic data © 2021 by CoStar
AREA OVERVIEW 11SITE AERIAL 12
SITE AERIAL 13
EXCLUSIVELY LISTED BY
TOUFIC SIMAAN
President
(407) 261-4404
tsimaan@simaanre.com
DANNY SEMAAN
Sales Associate
(407) 595-9697
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