Narcoossee Commons, a newly built six-building retail plaza on the Narcoossee Road corridor in south St. Cloud, has hit the market with an asking price just north of $27 million. The neighborhood center spans roughly 55,400 square feet and blends medical, professional services, and quick-serve tenants, giving the site a largely stabilized cash-flow profile. Brokers say steady roadway traffic and a wave of nearby housing growth have helped keep vacancy low and rents ticking up. The listing is being pitched to regional investors looking for immediate income with a bit of lease-up upside on the side.
Listing hits the market
As reported by the Orlando Business Journal, Narcoossee Commons is being marketed for roughly $27.5 million, with a 55,396-square-foot footprint. According to the outlet, the seller brought the asset to market today, when brokers began circulating an offering memorandum to potential buyers. Local brokers told the Business Journal that newly completed neighborhood centers in this submarket are still relatively rare, which has helped the listing grab early attention.
Property details from the offering
Per the commercial listing on Crexi, Narcoossee Commons totals 55,396 rentable square feet across 35 units spread across six buildings, with an asking price of $27,573,000. The Crexi profile shows occupancy at about 84.2% and annual net operating income of nearly $1.72 million, which works out to a cap rate in the mid-6 % range at asking. The broker offering memorandum available via RIPCO notes that most occupied suites are on NNN leases with annual escalations, a structure the brokers say helps limit near-term capital exposure for a new owner. In other words, much of the rent is designed to come in without a lot of surprise repair bills.
Why Osceola matters to buyers
According to U.S. Census QuickFacts, Osceola County’s population surged after 2020, rising by roughly 20% in the most recent estimates and boosting household counts and retail spending along corridors such as Narcoossee Road. Listing materials highlight heavy daily traffic and nearby master-planned housing projects that funnel shoppers to the center. Those demand drivers are central to the broker pitch that this newer construction asset stacks up more favorably against older, higher-maintenance retail in competing submarkets.
Investor takeaway
Listing brokers say the property is expected to draw interest from both local owners and regional private capital chasing stabilized retail in a tight market. The offering materials identify RIPCO brokers Ari Ravi and Nathan Timmons as the sale contacts. The OM frames the deal as a NNN-heavy, partially stabilized cash-flow play, with upside from leasing remaining vacancies and capturing modest rent growth over time. With Osceola’s rapid housing gains and the site’s proximity to Orlando employment centers, brokers are bracing for competitive bidding once offers are formally solicited.
