Updated Dec 4, 2023
Chester Stokes III Acquires Industrial Property On New Kings Road In Jacksonville For $2.2M
10042 New Kings Rd Jacksonville, FL 32219, USA
$2,200,000
Building Size
—
Asset Type
Industrial
Closing
Jul 21, 2023
About this deal
AI
The industrial property located at 10042 New Kings Road in Jacksonville has been sold. The property spans across 11.19 acres and was sold for a total price of $2,200,000, resulting in a per acre price of approximately $196,604.
Summary of transation details
- Property Type: Industrial
- Transaction Amount: $2,200,000
- Address: 10042 New Kings Road
- Market: Jacksonville
- Acres: 11.19
- PPA (Price Per Acre): $196,604
The buyer of the property is Chester Stokes III, while the seller is Larry Malphrus. The deal was facilitated by Evan Metz, Yair Brachiyahu, and Zachary Schneider, who are the brokers representing Alberi Real Estate in this transaction.
Players
Jacksonville Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
7.21%
Cash-on-Cash
-2.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93