Updated Oct 29, 2024
Karis Cold Acquires Land In Westlake Industrial Park, West Jacksonville For $2.87M
West Jacksonville
$2,870,000
Building Size
—
Asset Type
Land
Closing
Jun 29, 2023
About this deal
AI
Karis Cold has acquired a 24.17-acre land in West Jacksonville's Westlake Industrial Park for $2.87 million. The property is located along Pritchard Road and is designated for the development of a 265,264-square-foot cold storage warehouse. The facility will include loading docks and office space, with the potential to accommodate multiple tenants.
Summary of transaction details:
- Property Type: Land
- Transaction Amount: $2,870,000
- Address: Along Pritchard Road in Westlake Industrial Park
- Market: West Jacksonville
- Buyer: Karis Cold - Ken Verne
- Seller: Westlake Land Management Inc
- Brokers: John Richardson & Bryan Bartlett - Newmark Phoenix Realty Group
- Acres: 24.17
The buyer, Karis Cold, represented by Ken Verne, purchased the land from Westlake Land Management Inc. The deal was facilitated by brokers John Richardson and Bryan Bartlett from Newmark Phoenix Realty Group.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.53%
Cash-on-Cash
-1.58%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93