FrostPoint Capital Acquires Retail Property In Orlando For $9.9M
13200 East Colonial Drive, Orlando, Florida 32826, United States
$9,900,000
$158/SF
Building Size
62,460 SF
Asset Type
Retail
Closing
Jun 5, 2022
AI
The retail property located at 13200 E Colonial Dr in Orlando has been sold in a transaction facilitated by Kirk Olson and Drew Kristol of Institutional Property Advisors (IPA) - Marcus & Millichap. The deal was completed on 06/06/2022.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $9,900,000
- Market: Orlando
- Address: 13200 E Colonial Dr
- Buyer: FrostPoint Capital
- Seller: Harry Spitzer - HS Capital
- Brokers: Kirk Olson & Drew Kristol - Institutional Property Advisors (IPA) - Marcus & Millichap
- SF (Square Footage): 62,460
- Price per Square Foot (PPSF): $159
The buyer, FrostPoint Capital, acquired the property from the seller, Harry Spitzer of HS Capital. Kirk Olson and Drew Kristol from Institutional Property Advisors (IPA) - Marcus & Millichap represented both parties in the transaction. This sale demonstrates the active retail market in Orlando and the vibrant commercial real estate industry in the area.
Players
Orlando Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.60%
Cash-on-Cash
-0.46%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93