Updated Oct 29, 2024
Mayfair Investment Partners Acquires 338,000-Square-Foot Distribution Center In Jacksonville For $14M
5344 Overmyer Dr Jacksonville, FL 32254, USA
$14,000,000
$41/SF
Building Size
338,000 SF
Asset Type
Industrial
Closing
Jul 6, 2023
About this deal
AI
Mayfair Investment Partners has purchased a 338,000-square-foot distribution center located at 5344 Overmyer Drive in Jacksonville for approximately $14 million. The transaction was completed with the seller, Revlon Inc. This industrial property is situated in a thriving market driven by the deepening of the St. Johns River and expanded port capacity.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $14,000,000
- Address: 5344 Overmyer Drive
- Market: Jacksonville
- Buyer: Mayfair Investment Partners (represented by Jonathan More)
- Seller: Revlon Inc
The buyer, Mayfair Investment Partners, plans to invest in renovations and attract tenants to capitalize on the industrial market's growth potential. The acquisition signifies the company's strategic move into the Jacksonville market and showcases their confidence in the ongoing development of the area. The deal was facilitated by brokers Tyler Newman from Cushman & Wakefield and Urbanize Properties.
On the Map
$14,000,000
$41/SF
Industrial
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Players
Miami 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
1.13%
Cash-on-Cash
-0.32%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93