Osceola County is looking to sell a 5.9-acre parcel at a key interchange in the Kissimmee tourism corridor.
County Commissioners voted recently to declare the property surplus and put it on the market. The parcel is located right off the Osceola Parkway exit ramp at the S.R. 535 (Vineland Road) interchange. The corner parcel has frontage on Vineland and Poinciana Boulevard, which is being extended into the new Sunrise City Plaza next door.
The neighboring shopping center now under construction will be anchored by a new Publix, which will replace the store down at Poinciana Place.
Sunrise City is a 238-acre mixed-use development just south of the Lake Buena Vista Factory Stores with entitlements for up to 1,000 multifamily units.
The southeast quadrant of the interchange is the corner of Lennar's Storey Lake subdivision, which is approved for 2,000 homes. And right across the street, in a similarly situated parcel, is a Wawa that opened in 2013.
County Manager Don Fisher said he hasn't decided whether to market the property individually, or add it to a list of about a dozen parcels to be sold later this year at auction.
The county's Procurement Department currently has an active Request for Proposals (RFP) for real estate auction services. Bids are due Feb. 14.
The Vineland property was part of a larger taking from 1994 when the county built that portion of Osceola Parkway. It currently doesn't have access from S.R. 535, but County Administrator Don Fisher said he expects that the Florida Department of Transportation would approve a driveway in conjunction with a Site Development Plan.
"We have 420 feet of frontage on S. R. 535," he said.
Brian Capo, a retail specialist at Marcus & Millichap with experience representing fuel station clients, said the location is excellent, but access to the property will determine its value.
"The biggest thing a retailer wants, which they don't always get, is a left-in, left-out driveway," he said Tuesday.
It's highly unlikely FDOT would approve left-turn access directly from S.R. 535, which could be widened to six lanes in the future. But having a second access from Poinciana Boulevard -- a signalized intersection -- could help the site out-position other retail parcels on the corridor.
The site is ideal for a gas station, if the buyer wanted to compete head-to-head with Wawa across the street. At nearly 6 acres, it's large enough to accommodate other retail uses, Capo said.
"I think it's a fantastic piece," he said. "I just don't know how the roads are going to change there. But the rooftops and tourism is there. It's in the West 192 Redevelopment area, that's where all the momentum is right now."