Leased Multi-Tenant Strip
For Sale
$6,150,000
1750 E Irlo Bronson Memorial Hwy, Saint Cloud, FL 34771
Concrete block retail center with a metal roof, established tenants, and direct frontage along a major east–west corridor.
Property Size28,730 SF
Price / SF$214.06
Days on Market150
Property Features for 1750 E Irlo Bronson Memorial Hwy
General Information
Standard status
Active
Size
28,730 SF
Property subtype
Shopping Strip
Occupancy
100%
Site & Location
Anchor Co-Tenants
Furniture One
Traffic Count
30,000 vehicles/day
Additional Details
Cap Rate
7.6%
Amenities
ATTRACTIVE IN-PLACE AND GOING-IN RETURNS: Delivers a 7.30% Year 1 Cash-on-Cash Return and an 11.46% Year 1 Total Return, supported by in-place income and contractual rent escalations.
BELOW REPLACEMENT COST BASIS: Offered at $214.06 per square foot, providing downside protection and favorable basis relative to current construction costs.
STRONG SUBMARKET RENT FUNDAMENTALS: According to CoStar, average asking rents in the submarket are approximately $32.00 PSF, supporting long-term rent growth and future mark-to-market potential.
SIGNIFICANT NOI UPSIDE VIA LEASE STRUCTURE: The VITAS Healthcare lease converts to NN upon renewal, materially reducing landlord expense exposure and providing a meaningful increase in NOI without additional capital investment.
DIVERSIFIED TENANT MIX WITH NATIONAL CREDIT: Anchored by Furniture One (52% of GLA) and supported by VITAS Healthcare, a publicly traded national tenant with a corporate guarantee, along with One+ Pickleball Club, an experiential tenant serving the local residential base.
LIMITED NEAR-TERM CAPITAL EXPENDITURE: Concrete block construction with a metal roof offering significant remaining useful life. The parking lot was sealed and restriped in December 2025, minimizing near-term capital requirements.
HIGH-GROWTH ST. CLOUD TRADE AREA: Positioned within a five-mile population of just under 90,000 residents, with average household incomes of approximately $90,000 within the one- and three-mile radius and projected annual population growth of 4.2%.
PRIME US-192 FRONTAGE WITH STRONG VISIBILITY: Direct frontage along US-192 (Irlo Bronson Memorial Highway) with approximately 30,000 vehicles per day, a major east–west corridor connecting St. Cloud, Kissimmee, and the Disney area.
Building Details
Building Size
28,730 SF
Year Built
2004
Construction
concrete block
Tenancy
Multi
Listing Agency:
Orlando Office
(407) 557-3834
Listed By:
Tarek Chbeir · License #FL: SL3449535
(407) 557-3834
Source:
Marcusmillichap
Added: Apr 3
Changed: Aug 30
Last Checked: Aug 30 at 9:54AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Orlando Office
Investment Insights
Based on property information with market context.
This multi-tenant strip retail center contains 28,730 square feet and is 100% leased. Built in two phases in 2004 and 2019, the property features concrete block construction, a metal roof, and a parking lot sealed and restriped in December 2025. Furniture One anchors the center, with VITAS Healthcare and One+ Pickleball Club also in occupancy. The VITAS lease converts to NN during its renewal period.
The property fronts US-192, also known as Irlo Bronson Memorial Highway, with approximately 30,000 vehicles per day. Its location connects St. Cloud, Kissimmee, and the Disney area and sits within a retail corridor that includes Walmart Supercenter, Target, Publix, Home Depot, Lowe’s, TJ Maxx, Ross, Chick-fil-A, Starbucks, and McDonald’s. The surrounding five-mile area includes just under 90,000 residents, while average household income within the one- and three-mile radii is approximately $90,000. Projected annual population growth is 4.2%.
The property fronts US-192, also known as Irlo Bronson Memorial Highway, with approximately 30,000 vehicles per day. Its location connects St. Cloud, Kissimmee, and the Disney area and sits within a retail corridor that includes Walmart Supercenter, Target, Publix, Home Depot, Lowe’s, TJ Maxx, Ross, Chick-fil-A, Starbucks, and McDonald’s. The surrounding five-mile area includes just under 90,000 residents, while average household income within the one- and three-mile radii is approximately $90,000. Projected annual population growth is 4.2%.
Key Highlights
- 100% leased, multi‑tenant retail center totaling 28,730 square feet
- Approximately 30,000 vehicles per day along US‑192 frontage
- Constructed in two phases: 2004 and 2019
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$564,167
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
9.17%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$11,283,340
$11.3M
Cap Rate 7%
$8,059,529
$8.1M
Cap Rate 9%
$6,268,522
$6.3M
Market Conditions
NOI Build-Up for 28,730 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$834.3K $29.04/SF
− Vacancy
−$28.4K −$0.99/SF
EGI
$806.0K $28.05/SF
− OpEx
−$241.8K −$8.42/SF
NOI
$564.2K $19.64/SF
Area
Osceola County, FL
Vacancy
3.40%
Lease Rate
$29.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$11,283,340
Cap Rate 7%
$8,059,529
Cap Rate 9%
$6,268,522
Alternative Uses
Best Use
Retail
$8.06M
$7.05M – $9.40M
NOI $564,167 @ 7.0% cap · market cap 9.17%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$8.88M
$7.77M – $10.36M
NOI $621,861 @ 7.0% cap · market cap 10.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
30,000 VPD
Traffic count
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
699
Businesses Nearby
232k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 38%
Shops & Services 36%
Groceries 22%
Electronics 2%
Wawa
Shops & Services
46,428 visits/mo
0.4 miles
Winn-Dixie
Groceries
28,490 visits/mo
0.3 miles
McDonald's
Dining
26,014 visits/mo
0.3 miles
7-Eleven
Shops & Services
23,943 visits/mo
0.4 miles
Aldi
Groceries
22,777 visits/mo
0.3 miles
Demographics for 34771, FL
26,503
Population
10,978
Households
2.4
Avg Household Size
40
Median Age
38%
College-Educated
92%
High-School Grad
154.5 sq mi
ZIP Area
172
Density / Sq Mi
$101,434
Median Household Income
$48,760
Median Earnings
$1,695
Median Rent
$427,500
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Strip mall - Concrete block retail center with a metal roof, established tenants, and direct frontage along a major east–west corridor.
Where is this strip mall located?
The property is located at 1750 E Irlo Bronson Memorial Hwy Saint Cloud, FL.
What is the asking price?
The asking price for this property is $6,150,000.
What are key features of this property?
This property features: 100% leased, multi‑tenant retail center totaling 28,730 square feet; Approximately 30,000 vehicles per day along US‑192 frontage; Constructed in two phases: 2004 and 2019
