Johnson Development Associates Acquires Development Site On Murrell Road From Jorge Ballarena For $2M
2733 Murrell Road
$2,000,000
$18/SF
Building Size
111,078 SF
Asset Type
Development Site
Closing
Jun 5, 2025
AI
The development site located at 2733 Murrell Road in Rockledge has been sold for $2,000,000. The property encompasses a total square footage of 111,078, resulting in a price per square foot of $18. The intended development was for self-storage.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $2,000,000
- Buyer: Johnson Development Associates
- Seller: Jorge Ballarena
- Brokers: Carissa Barzana & Zandra Mederos - Aterra Real Estate Partners
The transaction was facilitated by brokers Carissa Barzana and Zandra Mederos, who represent Aterra Real Estate Partners in this deal, coordinating the efforts between the buyer and seller.
Players
Santa Barbara Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
7.93%
Cash-on-Cash
-2.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93