1023 Colonial DrOrlando, FL 32804

Property Details for 1023 Colonial Dr

Year built

1956

Lot size

0.19 AC

Property size (Sq ft)

5,203 SF

Zone code

MU-1/T

Property type

Retail properties

Property subtype

Retail space

APN

22-22-29-6256-00-551

APU

222229625600551

Description

This exceptional investment opportunity presents a two-building, 3,360 square foot convenience store portfolio in Orlando, Florida, located at 1023 W Colonial Dr, 32804. Currently operating at 100% occupancy, the property generates a substantial $63,287 in net operating income (NOI), representing a 3.78% cap rate and a price per square foot of $498.51. The asking price is $1,675,000, offering immediate cash flow. The property is zoned for residential use, presenting significant redevelopment potential within a rapidly revitalizing area of downtown Orlando. This fee-simple ownership provides a unique chance to capitalize on Orlando's growth and the surrounding multi-million dollar development projects. The multi-tenancy structure ensures a diversified income stream. This is an ideal acquisition for investors seeking a blend of immediate returns and long-term appreciation in a prime location. The property's strong current performance and redevelopment potential make it a compelling investment opportunity in a dynamic market.

• CAP approach

  CAP return

  Valuation

  6%

  $1,696,846

  6.5%

  $1,566,319

  7%

  $1,454,439

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,058,908

  Geo Method

  $2,058,908

• Alternative Use

  Use

  Valuation

  Residential

  $1,321,249

  Hospitality

  $1,210,257

  Educational

  $1,006,919

  Medical

  $1,041,549

  Retail

  $1,566,319

Location Insight

City

Orlando

County

Orange

State

Florida

Latitude

28.5533

Longitude

-81.3945

CBSA code

36740

CBSA name

ORLANDO-KISSIMMEE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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