Located at ‘Oviedo on the Park’ just outside of Orlando, Florida, this Multi-Tenant Retail Condominium has an area of 12,386 sq.ft. The property has an excellent line up of quality retail, medical, fitness, and service tenants that serve thousands of residents, employees, and pedestrians in the area. An entirely new plus/minus 44-acre mixed-used development project, ‘Oviedo on the Park,’ comprises 277 newly-built Class A apartments, restaurants, food halls, retail, exercise trails, dog parks, a $9 million 5-acre community park, and event-filled Amphitheater. This property is located in an area that has 775 homes with a population of over 4,000 residents within walking distance. A newly-built 120 room hospital and regional emergency room and a 120,000 sq.ft. medical office building are also located in the proximity. Several national retailers are also present within the center, including Chipotle, Starbucks, Maple Street, Panera, Sprint, and Stretch Zone.
Due to a heavy flow of visitors and a thriving local economy fueled by one of the nation’s highest population growth, Orlando’s retail demand has always been robust, as the rising population growth creates an opportunity for high personal consumption. Plus, the metro city is also one of the strongest labor markets in the country, having the least unemployment in the state of Florida.
This investment property is suitable for a 1031 exchange.
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