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Orion Buying Corp. Acquires Retail Property In Key West For $5.264M

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SOLD
$5,264,000

Florida

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Retail10,174 SF
Sold 08/23/2023
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SOLD

Orion Buying Corp. Acquires Retail Property In Key West For $5.264M

527 Duval St Key West, FL 33040, USA

See Similar Deals
Retail10,174 SF
Sold 08/23/2023
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Summary

FLORIDA
Asset Type:Retail
Price Per Square Foot:$517
Total Square Footage:10,174 SF
Transaction Type:Sale

The historic Walgreens building on Key West's Duval Street has been sold for $5.264 million. The buyer, Orion Buying Corp., was represented by Kevin Sanz of Orion Real Estate Group. The seller, Walgreens Co., was represented by Brian Pfohl of CBRE. The property is located at 527 Duval Street and is classified as a retail asset. It spans a total size of 10,174 square feet, with a price per square foot of $517.

Summary of transation details

  • Property Type: Retail
  • Transaction Amount: $5,264,000
  • Address: 527 Duval Street
  • Market: Key West
  • Buyer: Orion Buying Corp. - Joseph Sanz
  • Seller: Walgreens Co.
  • Buyer's Rep: Kevin Sanz - Orion Real Estate Group
  • Seller's Rep: Brian Pfohl - CBRE
  • Lender: Ocean Bank
  • SF: 10,174
  • PPSF: $517

Orion Buying Corp., led by Joseph Sanz, acquired the Walgreens building on Duval Street. The property holds personal significance for the Sanz family, who have historical ties to Key West. In addition to its retail space, the building also includes residential apartments.

Players

Kevin Sanz
5 deals$113.3M volume
BROKER

Brian Pfohl
CBRE
5 deals$225.1M volume
BROKER

Joseph Sanz
6 deals$180.8M volume
BUYER

Walgreens
SELLER

Details

SOLD
IMAGE: Kevin Sanz, Rosalind Brewer, Joseph Sanz & Brian Pfohl DATE: 08/23/2023 ADDRESS: 527 Duval Street MARKET: Key West ASSET TYPE: Retail BUYER: Orion Buying Corp. - Joseph Sanz SELLER: Walgreens Co. (@Walgreens) BUYER'S REP: Kevin Sanz - Orion Real Estate Group SELLER'S REP: Brian Pfohl - CBRE (@CBRE) LENDER: Ocean Bank (@OceanBankUS) SALE PRICE: $5,264,000 SF: 10,174 ~ PPSF: $517 NOTE: Orion Buying Corp. purchased the historic Walgreens building on Key West's Duval Street for $5.264 million. The Sanz family, with historical ties to Key West, acquired the property, which includes residential apartments and holds personal significance for the family.

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Deal Type
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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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Cash Flow (Annual)-$18,701.87
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