Narcoossee Road Airport Parking & Rental Car Facilities Sell for Combined $10,650,000.00
MIjares Landstreet Enterprises LLC, which recently closed on its sale of the property located at 385 West Landstreet Road, which only Transact Orlando reported recently, just completed the purchase of the: (1) Omni Airport Parking facility located at 7640 Narcoossee Road, Orlando, Florida 32822, and (2) the property associated with the Priceless Car Rental facility located at 7652 Narcoossee Road, Orlando, Florida 32822.
This author believes that the purchase may constitute the replacement property of a IRC 1031 Like Kind Exchange transaction consummated by Mijares Landstreet Enterprises.
The Seller, Narcoossee Magician LLC, acquired the properties in 2018 and 2019 for an estimated total purchase price of $7,100,000.00.
The Omni Airport Parking facility, located at 7640 Narcoossee Road, consists of a 7.58 acre lot, improved with one building facility constructed in 2009, and 501 parking spaces.
The Priceless Car Rental facility, located at 7652 Narcoossee Road, consists of a 15.98 acre lot, and improved with one building constructed in 1990.
Truist Bank loaned $7,360,000.00 to the buyer, according to public records filed today.
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Chirag B. Kabrawala, Esq.
Kabrawala Law Group PLLC