TCII Capital Acquires 33.8 Acre Development Site In Poinciana, FL For $6.6M
SOLD
$6,604,000
Florida
See Similar DealsMultiFamily250,000 SF
Sold 04/04/2022
SOLD
TCII Capital Acquires 33.8 Acre Development Site In Poinciana, FL For $6.6M
Nwc Of Cypress Pkwy @ Marigold Ave, Kissimmee, FL 34758
See Similar DealsMultiFamily250,000 SF
Sold 04/04/2022
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$26
Total Square Footage:250,000 SF
Transaction Type:Sale
TCII Capital, represented by Jason Glaser of TCII Capital, has acquired a 33.8 acre development site in Poinciana, FL. The site, located at the NW corner of Marigold Ave & Cypress Pkwy next to 325 Cypress Pkwy, is set to be developed into 250,000 SF of retail space. The property is comprised of two shopping centers and six outparcels. The sale price for this transaction was $6,604,000, resulting in a price per square foot of $26.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $6,604,000
- Address: NW corner of Marigold Ave & Cypress Pkwy next to 325 Cypress Pkwy
- Market: Poinciana
- ACRES: 33.8
Avatar Properties Inc., represented by Taylor Morrison, served as the seller in this transaction. TCII Capital plans to develop the site into a retail space, catering to the growing market in Poinciana, FL.
Note from broker: TCII Capital intends to build two shopping centers and six outparcels, creating a total of 250,000 SF of retail space on the acquired site in Poinciana, FL.
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Operating Expenses (Annual)
Net Operating Income (NOI)
$352,213.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
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Annual Debt Service$375,675.95
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