Legacy at McKey · Mixed-Use · Downtown Ocoee, FL

Overview

The project in numbers

A simple, scalable program — street-facing retail, compact apartments above and parking inside the block — built on land the sponsor already owns, in the core of Ocoee's Downtown Master Plan.

Gross building area

sq ft

3 floors · 25,000 sq ft footprint

Retail & services

sq ft

Ground floor · ≈ 23,000 sq ft leasable

Apartments

Studios, 1 and 2 bedrooms · 2nd and 3rd floors

Parking

≈ spaces

162 on the block + 49 on the adjacent lot

Site area

3.39 acres

≈ 147,700 sq ft · 5 parcels + adjacent lot

Stabilized NOI

US$

Residential + commercial · 2026 dollars

Yield on cost

14.3%

NOI ÷ total cost of US$ 10,000,000

Gross profit at sale

US$

2.13x on cost · ≈ 28.7% p.a.

The Project

Build, lease
and sell to a fund

Full city blockMixed-useDowntown CoreLand owned outright

Deliver the first institutional-grade mixed-use building in downtown Ocoee: new, compact apartments renting below the city average and neighborhood retail three blocks from the new City Hall. Once stabilized, the asset has the profile income funds look for in Central Florida — mixed income, new construction and a master-plan location.

Active ground floor on all four sides

Continuous floor-to-ceiling storefronts on Kissimmee Ave and McKey St, awnings, wide sidewalks with outdoor seating and independent entrances to each shop — the design the Downtown Master Plan calls for in the core.

Compact, efficient apartments

Floor plans from 480 to 800 sq ft with open kitchens, in-unit laundry and balconies; double-loaded corridor, elevators and stairs in two cores. Net rentable residential area of 43,400 sq ft (≈ 87% efficiency).

Durable materials, controlled cost

Exposed-brick base, upper volumes in olive-green and gray metal panels, three floors with no basement — a fast-to-build, low-maintenance construction system.

Click the images to enlarge · Conceptual images; brands and signage for illustration only

Unit mix

75 apartments, 2026 target rents

Type	Units	Size	Rent/mo	US$/sq ft	Revenue/mo
Studio	30	480 sq ft	US$ 1,425	US$ 2.97	US$ 42,750
1 Bedroom	35	600 sq ft	US$ 1,615	US$ 2.69	US$ 56,525
2 Bedrooms	10	800 sq ft	US$ 1,875	US$ 2.34	US$ 18,750
Total / average	75	579 sq ft	US$ 1,574	US$ 2.72	US$ 118,025

The average target rent of US$ 1,574 sits below the Ocoee average (US$ 1,965) despite being new product — the positioning comes from compact unit sizes, not from an aggressive price per sq ft.

Site plan & parking

Parking on the block and on the adjacent lot

ParkingSpaces

Apartments (inside the block)112 · 1.5 per unit

Commercial (inside the block)50 · 2.0 per 1,000 sq ft

Adjacent lot — single-car garages31 covered

Adjacent lot — surface18

Total≈ 211 spaces

Site infrastructureSolution

DrainageExfiltration + retention; future city pond to the south

LoadingDedicated area by the service core

Sidewalks5-ft sidewalks and outdoor seating

AccessGates on Floral St and Bay St; lobby on Kissimmee

The Site

A full city block in downtown Ocoee

Five contiguous parcels form the block bounded by W McKey St (north), S Kissimmee Ave (east), Floral St (south) and Bay St (west), plus an adjacent lot to the south, across Floral St, dedicated to covered parking.

Parcel / addressDimensions · area

00074 · 214 W McKey St172.3 × 150 ft · 25,845 sq ft

00046 · 15 S Kissimmee Ave121.5 × 150 ft · 18,225 sq ft

00043 · 121 S Kissimmee Ave293.8 × 270 ft (L-shape) · 64,796 sq ft

00091 · 130 Floral St145.3 × 100 ft · 14,530 sq ft

Block (subtotal)≈ 123,400 sq ft · 2.83 acres

02080/02090 · 201–209 S Kissimmee Ave3 × (135 × 60 ft) · 24,300 sq ft

Total site area≈ 147,700 sq ft · 3.39 acres

Ownership

Owned outright

Held by the sponsor, free of liens

Entitlement

Sep 2026

Large Scale Preliminary Site Plan — city approval expected in the coming days

Dimensions per the Orange County Property Appraiser parcel map; areas computed from frontage dimensions and subject to survey. Mixed use per the Downtown Core design code, to be confirmed in the approved site plan.

Why the shape matters. A full block with four street frontages allows continuous storefronts, parking inside the block and a second pool of covered spaces on the adjacent lot — a rare configuration in historic downtowns, where lots tend to be narrow and fragmented.

Location

Downtown Ocoee, West Orange County

Orange County's third-largest city, Ocoee is 20 minutes from downtown Orlando, between SR 429 (the Western Beltway), SR 50 and Florida's Turnpike — and the site sits in the historic core the city has made its investment priority.

New Ocoee City Hall — 3 blocks

1 N Bluford Ave, opened in 2022 (46,000 sq ft, ≈ US$ 22 M): a daily flow of staff and residents steps from the project's storefronts.

Starke Lake & Lakefront Park — ≈ 0.4 mi

Revitalized lakefront, Bill Breeze Park, the Lakeshore Center (400-seat events venue) and the new Oakland Ave commercial corridor.

West Orange Trail — ≈ 0.5 mi

Regional trail linking Winter Garden, Ocoee and Apopka; a recreation asset and a link to downtown Winter Garden.

SR 429 · SR 50 · Turnpike · SR 408 — 1.5 to 2.5 mi

Four high-capacity corridors within minutes: direct access to Orlando, Disney, the airport (MCO) and the north of the county.

Orlando Health – Health Central — ≈ 2 mi

Regional hospital and medical cluster along Old Winter Garden Rd; a base of skilled jobs and demand for nearby housing.

Ocoee Business Park — ≈ 2 mi

685,000 sq ft of warehouse and flex space delivered by SR 429 and Maguire Rd; an industrial corridor anchored by Manheim and Sysco.

Downtown Winter Garden — ≈ 3 mi

The regional benchmark for a revitalized downtown: Plant St with retail rents of US$ 55/sq ft — the model Ocoee is pursuing.

The Dynasty | Ocoee — ≈ 2.5 mi

A US$ 1 billion sports and entertainment complex on 159 acres at Ocoee-Apopka Rd and Fullers Cross Rd.

Market

Ocoee & West Orange by the numbers

Above-average income, a young housing stock and projected population growth of 8–9% through 2030 — the demand profile that supports neighborhood retail and compact downtown apartments.

Ocoee population

≈ 49–51k

47,295 in the 2020 Census · 3rd-largest city in Orange County

Median household income

US$ 90,406

ZIP 34761 (ACS 2023) · +33% since 2019

Growth 2025–2030

+8.6 to 9.1%

Population within 3- and 5-mile radii (projected)

Housing built after 2000

62%

of the 14,794 housing units in ZIP 34761

Median home value

US$ 363k

ACS 2023 · +53% since 2019

Renter households

≈ 26%

3,800+ rented units in Ocoee

Daytime employees (5 mi)

83,499

16,377 businesses within 5 miles

Average household income (5 mi)

US$ 115,398

240,180 residents within 5 miles

Public investment

Downtown has already received US$ 44 million

Since the 2016 Downtown Master Plan, the city has delivered 18 infrastructure and public-space projects downtown — and in 2024 it hired G3 Development as master developer to attract the private capital that fills the blocks.

New City Hall (2022) · 46,000 sq ft · Bluford & McKeyCompleted

Bluford Avenue — sewer, streetscape and urban trailCompleted

Oakland Avenue — the future commercial “main street”Under way

Lakeshore Center (400 seats) and the Starke Lake waterfrontCompleted

Regional stormwater facility serving several blocksCompleted

Ocoee CRA — redevelopment agencyActive

Benchmark rents & cap rates

What the market validates today

Benchmark	Value	Source
Ocoee — 1 bedroom (785 sq ft)	US$ 1,611/mo	RentCafe · Apr 2026
Ocoee — 2 bedrooms (1,166 sq ft)	US$ 1,971/mo	RentCafe · Apr 2026
Ocoee — studio	US$ 1,645/mo	Rentometer · 2026
New retail · Winter Garden (2024)	US$ 35–42/sq ft	Stoneybrook W Pkwy
Street retail · Downtown Winter Garden	US$ 55/sq ft	162 W Plant St
1966 strip center · Ocoee (for sale)	7.29% cap	Silver Star Shopping Center
Orlando multifamily — cap rate Q1 2026	5.25–5.75%	Northmarq
Project — exit cap rate adopted	6.50%	Blended · conservative

Regional catalyst

The Dynasty | Ocoee — US$ 1 billion on 159 acres

The largest development ever proposed within Ocoee's city limits: a youth and amateur sports complex with hotels, retail and entertainment about 2.5 miles from the site, developed by Montierre Development and designed by AECOM.

Announced investment

US$ 1 bn

Ocoee-Apopka Rd & Fullers Cross Rd

Multi-use fields

+ 150,000 sq ft indoor sports center

Hotel rooms

1,100+

Two towers (929) and a boutique hotel (185)

Retail, F&B and entertainment

350,000 sq ft

Along a pedestrian riverwalk

The developers project 10,000 construction jobs, 5,000 permanent jobs and US$ 1.2 billion in annual economic impact. The PUD rezoning was approved unanimously in February 2025.

Diligence note. Trade press reported, in 2025–2026, lawsuits by creditors and vendors against Montierre (aggregate claims above US$ 11 million) and delays to the start of construction. As a matter of prudence, no revenue, rent or cap rate in this project depends on the Dynasty — if the complex is delivered, it adds demand for lodging, services and housing minutes from the site.

Financial projection

Stabilized NOI, costs and exit

Build-up of net operating income in the stabilization year, in 2026 dollars with no escalation. Two income streams with complementary profiles: residential rent and NNN retail leases.

A · Residential — 75 units

Gross potential rent (75 units × US$ 1,574 × 12)	US$ 1,416,300
Other income (US$ 40/unit/month)	US$ 36,000
(−) Vacancy and credit loss — 6%	− US$ 87,138
Effective gross income (EGI)	US$ 1,365,162
(−) Operating expenses — 37% of EGI	− US$ 505,110
Residential NOI	US$ 860,052

B · Commercial — 23,000 sq ft leasable (NNN)

Base rent (23,000 sq ft × US$ 28.00/sq ft NNN)	US$ 644,000
(−) Vacancy and credit loss — 7%	− US$ 45,080
Effective gross income (EGI)	US$ 598,920
(−) Non-recoverable expenses — 5%	− US$ 29,946
Commercial NOI	US$ 568,974

Total stabilized NOI

US$ 1,429,026

60% residential · 40% commercial

NOI required for US$ 22 M at 6.5%

US$ 1,430,000

The model delivers the target with conservative assumptions

Cost structure

From land to construction

Land 20%Construction 80%

Land — 3.39 acres, owned outright (reference value)US$ 2,000,000

Construction — hard costs, finishes, systems and soft costsUS$ 8,000,000

Total project costUS$ 10,000,000

Cost per sq ft builtUS$ 133.33

Exit value per sq ftUS$ 293

Point of attention. The US$ 106.67/sq ft budget is below current benchmarks for mixed-use construction in Central Florida; the project remains profitable up to US$ 167/sq ft. The budget should be locked in a GMP contract with the general contractor before the capital raise.

Exit & return

Sale to a fund in ≈ 3 years

Stabilized NOI	US$ 1,429,026
÷ Exit cap rate	6.50%
Appraised value → adopted sale price	US$ 21,985,015 → US$ 22,000,000
(−) Selling costs (3%)	− US$ 660,000
(−) Total project cost	− US$ 10,000,000
Project gross profit	US$ 11,340,000
Operating cash flow during lease-up (2028–2029)	not counted — upside

Cross-check by component	NOI	Cap	Value
Residential — 75 units	US$ 860,052	5.50%	US$ 15,637,309
Commercial — 23,000 sq ft	US$ 568,974	7.00%	US$ 8,128,200
Sum of components	US$ 1,429,026	6.01% implied	US$ 23,765,509

The US$ 22 million target price is 7.4% below the sum of the components — a built-in margin of safety. Project-level returns, before management and performance fees, which will be detailed in the offering documents.

Exit simulator

Stress-test the assumptions

Move the sliders to see how cap rate, NOI and construction cost change the exit value and gross profit. Land fixed at US$ 2,000,000; selling costs of 3%.

Exit cap rate 6,50% Stabilized NOI vs. base 0% Construction cost US$ 8.000.000

NOI considered

—

stabilization year

Exit value

—

NOI ÷ cap rate

Total cost

—

land + construction

Yield on cost

—

NOI ÷ total cost

Gross profit

—

after 3% selling costs

Multiple · annualized return

—

compounded over 36 months

Cap rate	NOI −10%	NOI −5%	Base NOI	NOI +5%
6.00%	US$ 21,435,390profit US$ 10,792,328	US$ 22,626,245profit US$ 11,947,458	US$ 23,817,100profit US$ 13,102,587	US$ 25,007,955profit US$ 14,257,716
6.50%	US$ 19,786,514profit US$ 9,192,918	US$ 20,885,765profit US$ 10,259,192	US$ 21,985,015profit US$ 11,325,465	US$ 23,084,266profit US$ 12,391,738
7.00%	US$ 18,373,191profit US$ 7,821,996	US$ 19,393,924profit US$ 8,812,107	US$ 20,414,657profit US$ 9,802,217	US$ 21,435,390profit US$ 10,792,328
7.50%	US$ 17,148,312profit US$ 6,633,863	US$ 18,100,996profit US$ 7,557,966	US$ 19,053,680profit US$ 8,482,070	US$ 20,006,364profit US$ 9,406,173

Sensitivity to construction cost (exit fixed at US$ 22 M)

Construction cost	US$/sq ft	Total cost	Yield on cost	Gross profit	Multiple
US$ 8,000,000 — base budget	US$ 106.67	US$ 10,000,000	14.3%	US$ 11,340,000	2.13x
US$ 9,500,000	US$ 126.67	US$ 11,500,000	12.4%	US$ 9,840,000	1.86x
US$ 11,000,000	US$ 146.67	US$ 13,000,000	11.0%	US$ 8,340,000	1.64x
US$ 12,500,000	US$ 166.67	US$ 14,500,000	9.9%	US$ 6,840,000	1.47x

Execution

Timeline — from approval to sale

Estimated total cycle of 36 to 39 months: approval and pre-construction, 15–16 months of construction, 12 months of lease-up and stabilization, and sale to an income fund.

4 MONTHS

Approval & pre-construction

Site plan approval by the City of Ocoee (Sep 2026), construction documents, permits, GMP contract with the general contractor and capital raise.

15–16 MONTHS

Construction

Foundations, three-story structure, façades, systems, finishes, parking and site work. Retail pre-leasing from month 6.

12 MONTHS

Lease-up & stabilization

Certificate of occupancy, shell delivery of retail units, absorption of 6–7 units/month and stabilization at ≈ 94% occupancy.

3–6 MONTHS

Sale to a fund

Offering memorandum with 12 months of operating history, competitive process with income funds and closing.

Sep 2026

City approval

Large-scale preliminary site plan approved.

Oct–Dec 2026

Permits & capital

Construction documents, permits, GMP and funding.

Jan 2027

Construction start

Mobilization, foundations and structure.

Apr 2028

Completion

Certificate of occupancy; move-ins and store openings.

Apr 2029

Stabilization

≈ 94% occupancy and 12 months of history.

Q3–Q4 2029

Sale

Closing with an income fund and distribution of proceeds.

Risks & mitigants

What can go wrong — and how the structure responds

Construction cost and schedule

Risk: a US$ 106.67/sq ft budget below market benchmarks. Mitigants: GMP contract before the raise, budget contingency, a simple construction system and positive profit up to US$ 167/sq ft.

Residential absorption

Risk: the Ocoee–Winter Garden–Clermont submarket is still absorbing new supply. Mitigants: rents below the city average, compact units (the lowest-vacancy segment), no new competing product downtown and 12 months of lease-up already in the plan.

Retail leasing

Risk: 23,000 sq ft of retail in a downtown still being revitalized. Mitigants: pre-leasing during construction, a services and F&B mix, City Hall three blocks away, shell delivery and rents 20–33% below new product in Winter Garden.

Exit cap rate

Risk: high interest rates keep cap rates elevated at sale. Mitigants: 6.5% is already conservative versus multifamily (5.25–5.75%); profit stays positive even at 7.5% with NOI 10% lower; the alternative of holding the asset at a 14% yield on cost.

Approvals and compliance

Risk: design changes required by the Downtown Master Plan design code. Mitigants: site plan in the final stage of approval, a local technical team and public infrastructure already delivered by the city.

Reliance on catalysts

Risk: delay or non-completion of The Dynasty | Ocoee. Mitigants: no revenue assumption depends on the complex; the project stands on Ocoee's existing demand.

Investment liquidity

Risk: capital tied up for ≈ 3 years. Mitigants: an income-producing asset from 2028; lease-up cash flow not counted; permanent refinancing as an alternative to sale.

Assumptions to validate

Technical discipline before the raise

Program and approved site plan

Reconcile the 75-apartment / 25,000 sq ft program with the approved site plan; the city's public listing describes an earlier iteration (14 commercial and 53 residential units).

Construction budget

Convert the US$ 8,000,000 into a GMP contract with a draw schedule and explicit contingency.

Land value

Independent appraisal to confirm the US$ 2,000,000 reference value and the form of contribution.

Rents, vacancy and expenses

Formal market study and detailed operating budget before leasing launch.

Exit buyer

Soundings with income funds and institutional brokers 6 to 9 months before stabilization.

Next steps

Memo review — analysis of the material and supporting documents.

City approval — formal receipt of the approved site plan and permits.

Reservation — confirmation of interest in the US$ 8,000,000 raise.

Documentation — investment structure, GMP and signatures.

Funding and mobilization — capital contribution and construction start in January 2027.

The project in numbers

Build, leaseand sell to a fund

75 apartments, 2026 target rents

Parking on the block and on the adjacent lot

A full city block in downtown Ocoee

Downtown Ocoee, West Orange County

Ocoee & West Orange by the numbers

Downtown has already received US$ 44 million

What the market validates today

The Dynasty | Ocoee — US$ 1 billion on 159 acres

Stabilized NOI, costs and exit

From land to construction

Sale to a fund in ≈ 3 years

Stress-test the assumptions

Timeline — from approval to sale

Approval & pre-construction

Construction

Lease-up & stabilization

Sale to a fund

What can go wrong — and how the structure responds

Technical discipline before the raise

Build, lease
and sell to a fund