Maingate Land Site (Kissimmee, FL)_Property for Sale
Maingate Land Site (Kissimmee, FL)_Property for Sale
7769 W Irlo Bronson Memorial Hwy, Kissimmee, FL, 34747-1727, US

Maingate Land Site (Kissimmee, FL)

Asset Description

Jones Lang LaSalle Americas, Inc. (JLL) is pleased to offer the sale of 7769 W Irlo Bronson, a premier redevelopment opportunity located along the heavily-traveled and active West Highway 192 corridor in Osceola County, Florida. The ±23.18-acre site provides a rare opportunity to repurpose a former resort hotel into a vibrant multifamily development positioned to take advantage of the activity and growth taking place in the area.


The site is located just outside of the southern boundary of the Walt Disney World complex and offers easy access for Disney employees to live near their workplace. The convenience of the location is further enhanced by the proximity to the major retail (Publix, Target, Ross Dress For Less, Ulta Beauty) at the intersection of SR-429 and Hwy 192 (1.25 miles away). Additional demand drivers in the area consist of Advent Health Celebration (3.5 miles), Margaritaville Resort Orlando (.75 miles), Disney Springs (5 miles) and Orlando College of Osteopathic Medicine (8.5 miles). Additionally, the site is strategically located between the SR 429 and I-4 corridors providing easy access to Horizon West and Downtown Orlando.


Development activity for new multifamily projects in the area between SR 429 and I-4 have been limited by the mature development that exists along the corridor. As a result, rental rates have remained in a range that is supportive of new Class-A development. This site presents an opportunity to be the best positioned new development that capitalizes on the rental drivers, amenities and robust tenant base that exist in the trade area. Current zoning is PUD and the future land use is Tourist Commercial. Entitlements would have to be modified to allow multifamily, however the initial feedback from the County was very supportive.


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Attributes

Land area net
9.38 ha
Investment strategy
Opportunistic

Media

Investment Highlights

Lower Supply Micromarket

  • The site is ideally separated from dense new construction pockets including along Highway-27, and the cluster northwest of US Highway 192 and State Road 429 (2,332 under construction units).

Excellent Connectivity

  • Located along US Highway 192, strategically positioned between State Road 429 and Interstate-4, the site is situated only three miles from the entrance to Walt Disney World (75,000 employees) and offers easy access to demand drivers both in the Celebration and Horizon West submarkets.

Immediate Retail Node

  • The site is located one mile from the Sunset Walk shopping, dining, and entertainment district, Rolling Oaks Commons Plaza (Target, TJ Maxx, Ross Dress for Less, Raising Canes), and Publix at Orange Lake Town Center. ~1.5 miles from the site is also Everest Place, a +220-acre mixed-use development under construction to include a 100,000 square-foot shopping and dining district, along with a 400-room Nickelodeon Hotel & Resorts.

Accessibility to Celebration Demand

  • Within ~6.0 miles, the site offers direct access to Celebration’s cluster of economic drivers, including AdventHealth Celebration (347 beds) which has a five-story tower expansion plan to add 80 beds, Gaylord Palms Resort & Convention Center, and the Old Town entertainment district.

Strong Demographic Profile

  • With more than 55,465 residents in a five-mile radius of the site, the average household income boasts $108,910 and the population is projected to grow 16.3% over the next five years.

Contact brokers

Maingate Land Site (Kissimmee, FL) (0 Properties)

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Last updated
2 Oct 2024