Karis Acquires 67-Acre Development Site In Daytona Beach For $18M
SOLD
$18,000,000
Florida
See Similar DealsDevelopment Site777,200 SF
Sold 10/18/2022
SOLD
Karis Acquires 67-Acre Development Site In Daytona Beach For $18M
1094 South Williamson Boulevard, Daytona Beach, Florida 32114, United States
See Similar DealsDevelopment Site777,200 SF
Sold 10/18/2022
Summary
FLORIDA
Asset Type:Development Site
Price Per Square Foot:$23
Total Square Footage:777,200 SF
Transaction Type:Sale
Located in Daytona Beach, the development site at 1094 S. Williamson Blvd has recently been sold in a transaction. Covering an area of approximately 67 acres, this property presents a great opportunity for future development.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $18,000,000
- Address: 1094 S. Williamson Blvd, Daytona Beach
- Market: Daytona Beach
- Seller: John Schnebly & Craig Wells
- Buyer: Karis
- Brokers: David Perez, Taylor Zambito & Matthew Trone - Cushman & Wakefield
- Image: David Perez, Taylor Zambito & Matthew Trone
- Date: 10/18/2022
- Asset Type: Development Site
- Acres: 67
Leading the transaction were brokers from Cushman & Wakefield, specifically David Perez, Taylor Zambito, and Matthew Trone. Their expertise and negotiation skills played a crucial role in facilitating the sale of this development site.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$960,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$63,950.20
Cash-on-Cash Return-1.27%
Monthly Debt Service$85,329.18
Annual Debt Service$1,023,950.20
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