Updated Oct 28, 2024
KB Home Jacksonville Acquires 42.5 Acres Development Site In Saint Johns For $5.2M
6164 Race Track Road, Saint Johns, Florida 32259, United States
$5,200,000
Building Size
—
Asset Type
Development Site
Closing
Jan 12, 2022
About this deal
AI
Located at 6164 Racetrack Road in Saint Johns, this 42.5-acre development site was recently sold in a closed transaction. The property is a prime location for potential development projects in the area.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $5,200,000
- Address: 6164 Racetrack Road, Saint Johns
- Market: Saint Johns
- Buyer: KB Home Jacksonville
- Seller: St. Johns Mortgage Management, Inc.
- Brokers: Linda Daniels and Associates
Represented by Linda Daniels and Associates, the buyer, KB Home Jacksonville, acquired this development site from the seller, St. Johns Mortgage Management, Inc. This strategic transaction highlights the potential growth and investment opportunities in the Saint Johns market. The sale price of $5,200,000 reflects the value and potential of this expansive property.
On the Map
$5,200,000
Development Site
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Saint Johns 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
3.05%
Cash-on-Cash
-0.87%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93