Team Market Group Acquires Mixed-Use Property In Orlando's Mills 50 District For $7M
1011 E Colonial Dr Orlando, FL 32803, USA
$7,000,000
$171/SF
Building Size
40,774 SF
Asset Type
Mixed-use
Closing
Jul 26, 2023
About this deal
AI
An Orlando-based Team Market Group has acquired a 1.2-acre mixed-use property in the Mills 50 district for just under $7 million. The property, located at 1011 East Colonial Drive, includes a five-story building with office and retail space. It is fully occupied with tenants such as Lineage Coffee and Lazy Moon Pizza.
Summary of transaction details
- Property Type: Mixed-use
- Sale Price: $7,000,000 (Approx.)
- Square Footage: 40,774
- Price per Square Foot: $172
- Address: 1011 East Colonial Drive, Orlando
- Market: Orlando
- Buyer: Team Market Group - Keith & Romi Mawardi
- Seller: Grabhorn Properties LLC
- Broker: Edward Johnston - The Edward Johnston Group - Coldwell Banker
The sale was facilitated by Edward Johnston from The Edward Johnston Group, a Coldwell Banker representative. The successful acquisition of this property further strengthens Team Market Group's presence in the Orlando market.
Players
Miami Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.27%
Cash-on-Cash
-0.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93