Demetree Real Estate Acquires Mixed-Use Properties In Winter Park For $20.6M
362 Pennsylvania Avenue & 444 New England Avenue
$20,600,000
Building Size
—
Asset Type
Mixed-use
Closing
Nov 3, 2023
About this deal
AI
Demetree Real Estate Services in Winter Park has purchased properties within The Plaza at Hannibal Square mixed-use project for $20.6 million. The properties include a four-story building with 14 apartments and retail space at 362 S. Pennsylvania Ave., and a three-story office and retail building at 444 W. New England Ave. These properties were previously sold in September 2014 for a combined $15 million.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $20,600,000
- Buyer: Demetree Real Estate Services - Mary Demetree
- Seller: Owens Realty Services - Robert Owens
- Market: Winter Park
Demetree Real Estate Services, represented by Mary Demetree, completed the acquisition of the properties from Owens Realty Services, represented by Robert Owens. The purchase price for the properties was $20.6 million. This transaction represents a significant investment by Demetree Real Estate Services in the Winter Park market, adding to their portfolio within The Plaza at Hannibal Square mixed-use project.
On the Map
$20,600,000
Mixed-use
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Players
Winter Park 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
0.77%
Cash-on-Cash
-0.22%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93