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

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)

With over 2,000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed 8,954 transactions in 2020 with a value of approximately $43 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry's most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com.