1700 E Irlo Bronson Memorial Hwy
Saint Cloud, FL 34771
Magnolia Square · Retail Property For Sale

Marcus & Millichap’s TC Retail Group is pleased to present the opportunity to acquire Magnolia Square, a value-add, multi-tenant retail property located at 1700 E Irlo Bronson Memorial Highway, St. Cloud, FL, strategically positioned along US-192. The property offers immediate upside through the lease-up of existing vacancy, rent growth, and expense optimization, within one of St. Cloud’s primary retail corridors benefiting from approximately 30,000 vehicles per day and strong regional connectivity between St. Cloud, Kissimmee, and the Disney area.
Constructed in 2004 and situated on approximately 1.95 acres, Magnolia Square provides substantial underlying land value in a rapidly growing retail corridor. The property is being offered at $179 per square foot, well below replacement cost, providing a favorable basis and downside protection in a market with rising construction costs.
The center consists of 18 total units, offering a diversified rent roll and reduced tenant concentration risk. Current average net rents at the property are below $11.00 per square foot, representing significant embedded upside when compared to CoStar-reported submarket asking rents of approximately $32.00 per square foot. The property offers immediate upside through the lease-up of two vacant units, driving a projected 9.89% Year 2 total return, with substantial additional value creation through raising in-place rents, converting leases to NNN structures, and consolidating operating expenses that are currently above market, materially improving NOI over time.
The property is 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 benefits from projected annual population growth of 4.2%, reinforcing long-term tenant demand.
Nearby national retailers include Walmart Supercenter, Target, Publix, Home Depot, Lowe’s, TJ Maxx, Ross, Chick-fil-A, Starbucks, and McDonald’s, further solidifying Magnolia Square’s location within a dominant, supply-constrained retail corridor. Supported by strong access to FL-417 (Central Florida Greenway), Magnolia Square represents a compelling opportunity to acquire a well-located retail asset with immediate income growth and multiple value-add levers.