Hot Property: 6.46-Acre Land Parcel in Orlando Sells for $4.2 Million

Marcus & Millichap sells a fully permitted 6.46-acre land parcel in Orlando, Florida, for $4.2 million.

By on May 17, 2023
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Hot Property: 6.46-Acre Land Parcel in Orlando Sells for $4.2 Million

In a significant deal in the commercial real estate market, Marcus & Millichap has successfully sold a 6.46-acre land parcel in Orlando, Florida, for an impressive $4.2 million. The property, situated near downtown Orlando, is fully permitted for the development of a 258-unit multi-family complex. This sale has garnered attention due to the property’s prime location and the high level of interest it generated, resulting in multiple offers at the full listing price within a remarkably short period of just two weeks.

The land parcel, located in the vibrant city of Orlando, offers immense potential for real estate development. With its close proximity to downtown Orlando, the property is strategically positioned to attract residents seeking a convenient and urban lifestyle. The fully permitted status of the land for a multi-family development further enhances its appeal to investors and developers.

The buyer of this prime land parcel remains undisclosed, but their acquisition of this property demonstrates their confidence in the Orlando real estate market and their commitment to capitalizing on the city’s growth potential. The purchase price of $4.2 million reflects the value placed on this desirable piece of land and the anticipated returns from the planned multi-family development.

The seller, whose identity has also not been revealed, can be commended for their astute decision to list the property with Marcus & Millichap. The renowned brokerage firm’s expertise and extensive network in the commercial real estate industry played a crucial role in attracting multiple offers within a short timeframe. This successful sale further solidifies Marcus & Millichap’s reputation as a leading player in the Orlando market.

The brokers involved in this transaction have not been disclosed, but their efforts in marketing and facilitating the sale of this land parcel should be acknowledged. Their ability to generate significant interest and secure multiple offers at the full listing price demonstrates their skill and knowledge of the local market.

The 6.46-acre land parcel in Orlando represents a valuable asset for the buyer, who now has the opportunity to develop a 258-unit multi-family complex in a highly sought-after location. With the property’s prime position near downtown Orlando and its full permitting status, the buyer can proceed with confidence, knowing they have acquired a property with immense potential for rental income and long-term appreciation.

Overall, this sale highlights the strong demand for well-located land parcels in Orlando’s thriving real estate market. The rapid interest and multiple offers received for this property underscore the city’s attractiveness to investors and developers. As Orlando continues to experience population growth and economic expansion, opportunities for lucrative real estate investments are expected to abound. This successful transaction serves as a testament to the city’s potential and the expertise of Marcus & Millichap in facilitating such deals.