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111 N SUMMERLIN AVE Orlando, FL 32801
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Key Details
Sold Price $2,750,000
Property Type Commercial
Sub Type Mixed Use
Listing Status Sold
Purchase Type For Sale
Square Footage 2,849 sqft
Price per Sqft $965
Subdivision Edgewater Terrace
MLS Listing ID O5971889
Sold Date 02/17/22
Construction Status Pending 3rd Party Appro
HOA Y/N No
Year Built 1915
Annual Tax Amount $7,155
Lot Size 5,662 Sqft
Acres 0.13
Property Description
The property sits in the heart of Thornton Park, one of Orlando’s most desired locations adjacent to Downtown Orlando. The property in its current state is being used as an event space, retail ice cream & deli, office rental, and Airbnb. Its current use had served the seller well, but now that it is transitioning it’s time for the right operator to come in and maximize the property’s use.
The property consists of four building’s - three office/ retail/Airbnb properties. All the buildings share a common area/courtyard which features a stage for bands/ceremonies and open outdoor event space. The Veranda is strategically one of the best pieces of real estate in terms of its geography. With major thoroughfares being a three min drive from the property it allows the property’s to be easily accessible from all the surrounding areas. Also, its walkability allows it to tap into the immediate Thornton Park area, Eola Heights, Downtown, and Colonial Town South. These two factors (walkability and ease of access) make The Veranda prime for entertainment (bars, restaurants, comedy clubs, etc.) operators. The demographics in the immediate area only further support the suggested use as a food & beverage opportunity.
The multiple functions of this investment property/ opportunity are rarely available in historic properties, but this property has the support of the City and Thornton Park, whom our offering incentives for the next owner of this gem. With the community and local municipalities behind the revitalization of this project now is the right time for a seasoned operator to seize this rare opportunity.
Location
State FL
County Orange
Community Edgewater Terrace
Zoning PD/T/HP/SP
Interior
Cooling Office Only
Exterior
Waterfront false
Building
Story 2
Foundation Slab
Lot Size Range 1/2 to less than 1
Structure Type Wood Frame
New Construction true
Construction Status Pending 3rd Party Appro
Others
Ownership Sole Proprietor
Special Listing Condition None
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