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Engend Co. III LLC Acquires Retail Center For $5.8M In Kissimmee Sale

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SOLD
$5,800,000

National

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Retail24,635 SF
Sold 10/22/2019
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SOLD

Engend Co. III LLC Acquires Retail Center For $5.8M In Kissimmee Sale

5877 W Irlo Bronson Memorial Hwy, Ki...

See Similar Deals
Retail24,635 SF
Sold 10/22/2019
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Summary

Asset Type:Retail
Price Per Square Foot:$235
Total Square Footage:24,635 SF
Transaction Type:Sale

The property asset involved in this transaction is a retail center known as Holiday Trail Plaza, located at 5877 W Irlo Bronson Memorial Hwy in Kissimmee, Florida. The transaction price was $5,800,000.00, and the property spans 24,635 square feet. At the time of sale, it was fully leased with notable tenants, including New Balance and Dunkin’ Donuts. The center is situated on over 2 acres and was completed in 1998.

Summary of transaction details:

Marcus & Millichap’s Vice President Scott Gould and Senior Vice President of Investments Tim Giambrone were involved in brokering the sale. Giambrone was also noted for his role in a separate retail asset sale in Haines City, Florida, which occurred earlier that same year.

Players

Tim Giambrone
7 deals$76.7M volume
BROKER

Scott Gould
Marcus & Millichap
8 deals$113M volume
BROKER

Details

SOLD
IMAGE: 10/22/2019 ADDRESS: 5877 W Irlo Bronson Memorial Hwy, Ki... ASSET TYPE: Retail SELLER'S REP: Scott Gould-Marcus & Millichap, Tim Giambrone-Marcus & Millichap BUYER: Engend Co. III LLC PRICE: $5,800,000.00 SF: 24635

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

$309,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$20,606.19
Cash-on-Cash Return-1.27%
Monthly Debt Service$27,494.96
Annual Debt Service$329,939.51