An Orlando gastroenterologist has purchased a prime commercial lot on E192 right in front of the new Florida Advanced Manufacturing Research Center.
Muhammed Mohiuddin, who has a practice in St. Cloud, paid $1.2 million through an LLC affiliate in late July for the 3-acre lot. His practice is Gastro & Nutrition Specialists, and the affiliate is GNS of Orlando.
Back in 2013, GNS paid $540,000 to buy a 0.75-acre outparcel in front of the Kissimmee Home Depot store on Vine Street.
The E192 lot is directly across from Osceola Heritage Park and lies within the E192 CRA district, which means it is subject to a building moratorium until late October.
Development of the FAMRC and 500-acre research park is driving up values in what had been a depressed corridor of U.S. 192. The new partnership between Kissimmee's International Consortium for Advanced Manufacturing Research (ICAMR) and Belgian tech leader imec is expected to draw interest within the tech industry for the research park.
The seller, King Motor Co. of Kissimmee LLC, doubled its original $600,000 investment after holding the property for 12 years. The site borders two other vacant commercial lots, each about 6 acres, and is on the same block with 10-plus acres of timberland that will likely be developed as the area transitions to an urban corridor.