Size: 78,452 s.f. 
Location: Mount Dora (Orlando), FL
Major Tenants: Ross, TJ Maxx, Dollar Tree, KFC (outparcel), Lake Regional Urgent Care (outparcel)

Status at Purchase:

Date: May, 18, 2018
Occupancy: 94%
Purchase Price: $11,033,333 ($141 psf / 7.6% cap rate)

Three-Part Business Plan:

Implement Capital Improvement Plan:
Address deferred maintenance

Sell Outparcels:
Sell KFC and Lake Regional Urgent Care outparcels (at a lower cap rate than purchase) and potentially sell two additional pad sites.

Reduce Operating Expenses:
Actively manage property utilizing SunCap’s platform and key vendor relationships in order to reduce operating expenses.

Investment Returns:

Equity Invested: $4,092,000

Forecast Investor Returns:
9+% current cash-on-cash
14+% IRR over five year hold
Investment Multiple: 1.7