Johnson Development Associates Acquires Development Site On Murrell Road From Jorge Ballarena For $2M
SOLD
$2,000,000
California
See Similar DealsDevelopment Site111,078 SF
Sold 06/05/2025
SOLD
Johnson Development Associates Acquires Development Site On Murrell Road From Jorge Ballarena For $2M
2733 Murrell Road
See Similar DealsDevelopment Site111,078 SF
Sold 06/05/2025
Summary
CALIFORNIA
Asset Type:Development Site
Price Per Square Foot:$18
Total Square Footage:111,078 SF
Transaction Type:Sale
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
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$106,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$7,105.57
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,481.02
Annual Debt Service$113,772.24
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