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Browse More Listings in Office For Sale, Orlando, FL or Florida

Office Property For Sale

Platinum Plaza

11059 International Drive, Orlando, FL 32821

Price:
$5,900,000
Building Size:
29,857 SF
Price/SF:
$197.61
Property Type:
Office
Property Sub-type:
Office Building
Property Use Type:
Net Lease Investment with 10+ years left on lease
Commission Split:
2%
Cap Rate:
10.20%
Occupancy:
100%
No. Stories:
2
Building Class:
A
Tenancy:
Single
Year Built:
2005
Lot Size:
2.57 AC
Parking Ratio:
4.40 / 1,000 SF
Find Out More...

Last Verified 10/13/2009 Listing ID 16263426

Highlights

2 Story Class A Office Building Built in 2005
Located in Orlando's Tourist Corridor
New 10 Year Lease

Credit Tenant
10.2% Cap Rate!

Description

Grubb & Ellis|Commercial Florida is pleased to present the opportunity to acquire the 100 percent fee simple interest in 11059 International Drive, Orlando, FL ("Property"). The 29,857 square foot, Class A building was built in 2005, and features two stories of office space. The site contains approximately 2.57 Acres and is zoned PD (Planned Development). The Property also features excellent signage opportunities and exposure on International Drive, and is in close proximity to high-end retailers, SeaWorld, golf destinations, the Orange County Convention Center and other area attractions.

We are pleased to announce that the tenant in occupancy of the Platinum Plaza property has recently been acquired by a well-known NYSE publically traded company. The new owner has executed a new 10 year lease which commenced on September 1, 2009. This new lease has a rental payment in the amount of $50,000 per month NNN ($20.10 per sf) for the first 3 years of the lease and then adjusts annually to a market rate with a CPI increase. We have not increased the asking price, so this new rent stream results in a cap rate of 10.2%!

The Property is located on the high traffic International Drive corridor in Orlando's Tourist Corridor. Located just off State Road 528 south of Central Florida Parkway on International Drive. Easy access to Florida's Turnpike, State Road 528, State Road 417, and the Orlando International Airport.

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Contact Listing Broker

Brian Hill (407) 423-1200

Joseph Rossi (407) 481-5394

Bret Felberg (321) 279-9084

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Created 6/3/2009

Additional Information for 11059 International Drive, Orlando, FL 32821

Active For Sale - 2 Listings
Active For Lease - 1 Listing
Previously Listed - 1 Historic Listing
Sales Comparables Available - 0 RecentSales Record

View additional information for the property view other currently active listings, previous listings, sales comparables, public records, and county records data for this address.

Comparable Properties for 11059 International Drive, Orlando, FL 32821

Nearby Office properties for saleSearch all commercial real estate for sale

Platinum Plaza
$5,900,000
33,408 SF

Nearby Office properties for leaseSearch all commercial real estate for lease

Platinum Plaza
$25.00/SF/Year
9,500 - 16,198 SF

The information above has been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial, and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.

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Office Property For Sale - Platinum Plaza

11059 International Drive, Orlando, FL, 32821