Four St. Cloud Retail/Office Parcels Acquired by Local Developer

The Dependent Special District of the City of Saint Cloud recently sold 6+ acres zoned retail/office with frontage on Nolte Road located next to the Stevens Plantation residential community. Capital Stack Real Estate Group represented both the Seller and the Buyer, EMF of Winter Park, Inc. The 4 lots went under contract on November 8, 2021 for $1,320,000 and closed on February 28, 2022. Seacoast Bank provided financing for the acquisition.

According to Veronica Malolos, CCIM, Managing Broker and Principal of Capital Stack Real Estate Group, the 4 contiguous retail/office parcels were on multiple offers prior to the Board approving the contract to sell to the Buyer. The parcels are anchored by a very successful Walmart Neighborhood Market Store with a Walmart C-Store. The Retail Park also has an operating Dental office and a neighborhood retail shopping center that’s currently in permitting and is 90% pre-leased.

Max Thakkar, MBA, (Capital Stack Real Estate Group) who represented the Buyer, says they are now pre-leasing 3 phases of development that comprise of a 10,000 sf retail/office building with Nolte Road frontage (Phase 1), a Daycare on an interior back lot (Phase 2) and a 3,600 sf 2-concept QSR building with drive-through on Nolte Road (Phase 3). Phase 4 will consist of other retail/medical on the remaining lot. Mr. Thakkar is a Principal of EMF of Winterpark, Inc.

For more information contact Veronica Malolos, CCIM at veronica@gocapitalstack.com
Capital Stack Real Estate Group is a general commercial real estate company based out of Central Florida.

About CCIM

“CCIM stands for Certified Commercial Investment Member. For more than 50 years, CCIMs have been recognized as leading experts in commercial investment real estate. The CCIM lapel pin denotes that the wearer has completed advanced coursework in financial and market analysis, and demonstrated extensive experience in the commercial real estate industry.”