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FrostPoint Capital Acquires Retail Property In Orlando For $9.9M

Property Image
SOLD
$9,900,000
Kirk Olson
Drew Kristol

Florida

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Retail62,460 SF
Sold 06/06/2022
the dealplayerscompscontact
Property Image
SOLD

FrostPoint Capital Acquires Retail Property In Orlando For $9.9M

13200 East Colonial Drive, Orlando, Florida 32826, United States

See Similar Deals
Retail62,460 SF
Sold 06/06/2022
Kirk Olson
Drew Kristol
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:Retail
Price Per Square Foot:$158
Total Square Footage:62,460 SF
Transaction Type:Sale

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

Drew Kristol
Marcus & Millichap
Drew Kristol
46 deals$560.5M volume(786) 522-7065
BROKER
Kirk Olson
Marcus & Millichap
Kirk Olson
46 deals$569.8M volume(786) 522-7064
BROKER
FC
FrostPoint Capital
BUYER

Details

SOLD
IMAGE: Kirk Olson & Drew Kristol DATE: 06/06/2022 ADDRESS: 13200 E Colonial Dr MARKET: Orlando ASSET TYPE: Retail BUYER: FrostPoint Capital SELLER: Harry Spitzer - HS Capital BROKERS: Kirk Olson & Drew Kristol (@DaKristol66) - Institutional Property Advisors (IPA) - Marcus & Millichap (@MarcusMillichap_Fl) SALE PRICE: $9,900,000 SF: 62,460 ~ PPSF: $159

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$528,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$35,172.61
Cash-on-Cash Return-1.27%
Monthly Debt Service$46,931.05
Annual Debt Service$563,172.61