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Curtis Frost Of WMG Development Sells Narcoossee Cove Retail Development In Orlando For $31M
SOLD
$31,000,000
Florida
See Similar DealsRetail36,100 SF
Sold 02/11/2025
SOLD
Curtis Frost Of WMG Development Sells Narcoossee Cove Retail Development In Orlando For $31M
12040 Pioneers Way
See Similar DealsRetail36,100 SF
Sold 02/11/2025
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$858
Total Square Footage:36,100 SF
Transaction Type:Sale
The transaction involved the sale of a retail development known as Narcoossee Cove located at 12040 Pioneers Way, 11955, 11915, 11825 & 12061 Narcoossee Road in Orlando. The property encompasses 36,100 square feet and achieved a sale price of $31,000,000, translating to a price per square foot of $859.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $31,000,000
- Sale Date: 02/11/2025
- Square Footage: 36,100
- Price per Square Foot: $859
- Seller: Curtis Frost - WMG Development
- Broker Representatives: Michael Brewster & Tommy Isola - Colliers
- Market: Orlando
Colliers facilitated the sale process through multiple transactions with five buyers, with Curtis Frost representing WMG Development as the seller in this agreement.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,653,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$110,136.45
Cash-on-Cash Return-1.27%
Monthly Debt Service$146,955.82
Annual Debt Service$1,763,469.79
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