KB Home Jacksonville Acquires 42.5 Acres Development Site In Saint Johns For $5.2M
SOLD
$5,200,000
Florida
See Similar DealsDevelopment Site
Sold 01/13/2022
SOLD
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
See Similar DealsDevelopment Site
Sold 01/13/2022
Summary
FLORIDA
Asset Type:Development Site
Transaction Type:Sale
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.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$277,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$18,474.52
Cash-on-Cash Return-1.27%
Monthly Debt Service$24,650.65
Annual Debt Service$295,807.83
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