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James Dicks Of Dix Developments Acquires Development Site In Groveland For $4.875M

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SOLD
$4,875,000

Florida

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James Dicks Of Dix Developments Acquires Development Site In Groveland For $4.875M

Development Site
Sold
the dealplayerscompscontact
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Summary

Asset Type:Development Site
Transaction Type:Sale

The property involved in the transaction is a development site located at 1100 Leesburg Highway in Groveland. The sale price for this asset was $4,875,000.00.

Summary of transation details:

April Stevenson from Sellstate Innovation Realty represented the seller in this transaction. The deal took place on March 26, 2025, highlighting the involvement of key individual James Dicks from Dix Developments as the buyer.

Players

April Stevenson
Sellstate Innovation Realty
April Stevenson
2 deals$19.4M volume(407) 214-3444
BROKER

Details

SOLD
IMAGE: James Dicks & April Stevenson DATE: 03/26/2025 ADDRESS: 1100 County Road 48 MARKET: Leesburg ASSET TYPE: Development Site ~ ACRES: 74 BUYER: James Dicks - Dix Developments BROKER: April Stevenson (@AprilStevenson_) - Sellstate Innovation Realty (@SellstateInnovationRealty) SALE PRICE: $4,875,000 NOTE: Dix Developments acquired the 74-acre Blake Ridge property in Leesburg for $4.875M, planning 216 single-family lots as part of a larger 1,466-home master-planned community. The project, integrated into the Oak Ridge Community Development District, will include the 84-acre Huntington Oaks and 597-acre Oak Ridge developments.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$259,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$17,319.85
Cash-on-Cash Return-1.27%
Monthly Debt Service$23,109.99
Annual Debt Service$277,319.85