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A 26,000-SF Retail Plaza Near Disney Sells For $5 Million

January 18, 2022

KISSIMMEE, Fla., January 18, 2022 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Sunrise Plaza, a 24,088-square-foot retail plaza located in Kissimmee, Florida. According to Justin W. West, regional manager of the firm’s Orlando office, the asset sold for $5,050,000. The price equated to $209.65 a square foot.

Salim Valiani, an investment specialist in Marcus & Millichap’s Orlando office, had the exclusive listing to market the property on behalf of the seller, a private investor.

“This property was bought from an auction back in 2012 during the great recession for under $1 million. Our investor was able to see the potential and bring the property to its potential over time and sell the plaza. The buyers also understand appreciation of commercial properties in central Florida and have plans to maximize the potential of this property,” said Salim.

Built in 1992, on 2.87-acres of land, the property is currently at 95% occupancy rate. Tenants in Sunrise Plaza include Geico, Primo Fine Wines and Downtown Bicycles. It is adjacent to a Bravo Supermarket and within proximity to several hotels.

Sunrise Plaza is located at 4137 W Vine St in Kissimmee, Florida, on the Disney corridor between West Vine Street and North Hoagland Blvd, with direct access to Highway 192 with high visibility and traffic from local tourism.

 

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About Marcus & Millichap (NYSE: MMI)

Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2021, the company had 1,994 investment sales and financing professionals in 82 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 13,255 transactions in 2021, with a sales volume of approximately $84.4 billion. For additional information, please visit www.MarcusMillichap.com.

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