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Shopping Strip

Cedar Plaza

11570 S Orange Blossom Trl, Orlando, FL 32837

Listing Price: $10,600,000

Cap Rate
6.58%
Gross SF
40,367
Rentable SF
40,367
Price/Gross SF
$262.59
Lot Size
4.80 acres
Year Built
1998

Investment Overview

Marcus & Millichap is pleased to present Cedar Plaza, a 40,367 square foot Shopping Strip anchored by BioIVT, Value Pawn, and Amscot known as "The Money Superstore". In conjunction with Cricket Wireless and Brisas Bakery & Restaurant, the center's global/regional corporate tenants occupy 65% of the GLA and contribute 62% of base rental income. Cedar Plaza offers an investor the opportunity to acquire a stabilized asset with 90% occupancy and also add value through lease up of the vacant space. The property is located 10 miles from Orlando International Airport and is situated parallel to a major retail corridor in Orlando with good visibility and a traffic count of 54,000 vehicles per day. The area reflects outstanding demographics with a 5-Mile daytime population over 250,000 and average annual household incomes above $76,000 in a 3-Mile radius. The local area has experienced excellent growth of just under 79% since 2000 with a retail submarket vacancy of only 4.6% and only 2.6% for strip centers. Additionally, the submarket known as Tourist Corridor has demonstrated strength in difficult market conditions with a reported 12 month rent growth of 1.8%.

Investment Highlights

  • Anchored by Global/Regional Tenants representing 65% of the GLA
  • Stabilized Asset with 10% Vacancy for Value Add
  • Parallel to Dense Retail Corridor with 54,000 AADT
  • 250,00 Population; AHHI $76k and Growth of 78%
  • Low Submarket Vacancy of Only 4.6%

Exclusively Listed By

Broker of Record

  • Ryan Nee

    First Vice President / District Manager

    (954) 245-3400

    License(s) FL: BK3154667

    Florida

Listing Price: $10,600,000

Cap Rate
6.58%
Gross SF
40,367
Rentable SF
40,367
Price/Gross SF
$262.59
Lot Size
4.80 acres
Year Built
1998

Investment Highlights

  • Anchored by Global/Regional Tenants representing 65% of the GLA
  • Stabilized Asset with 10% Vacancy for Value Add
  • Parallel to Dense Retail Corridor with 54,000 AADT
  • 250,00 Population; AHHI $76k and Growth of 78%
  • Low Submarket Vacancy of Only 4.6%

Investment Overview

Marcus & Millichap is pleased to present Cedar Plaza, a 40,367 square foot Shopping Strip anchored by BioIVT, Value Pawn, and Amscot known as "The Money Superstore". In conjunction with Cricket Wireless and Brisas Bakery & Restaurant, the center's global/regional corporate tenants occupy 65% of the GLA and contribute 62% of base rental income. Cedar Plaza offers an investor the opportunity to acquire a stabilized asset with 90% occupancy and also add value through lease up of the vacant space. The property is located 10 miles from Orlando International Airport and is situated parallel to a major retail corridor in Orlando with good visibility and a traffic count of 54,000 vehicles per day. The area reflects outstanding demographics with a 5-Mile daytime population over 250,000 and average annual household incomes above $76,000 in a 3-Mile radius. The local area has experienced excellent growth of just under 79% since 2000 with a retail submarket vacancy of only 4.6% and only 2.6% for strip centers. Additionally, the submarket known as Tourist Corridor has demonstrated strength in difficult market conditions with a reported 12 month rent growth of 1.8%.

Exclusively Listed By

Broker of Record

  • Ryan Nee

    First Vice President / District Manager

    (954) 245-3400

    License(s): FL: BK3154667

    Florida

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