BFC Property Holdings LLC Acquires Land In St. Augustine For $2.085M
1475 Florida Highway 207
$2,085,000
Building Size
—
Asset Type
Land
Closing
Nov 30, 2023
About this deal
AI
The Gate Express Carwash property located at 1475 Florida Highway 207 in St. Augustine has been sold for $2,085,000. The sale was announced by NAI Hallmark, with Austin Kay, Vice President, representing the seller, Ocala Herlong LLC. The buyer, BFC Property Holdings LLC, is an affiliate of Gate Petroleum and is expanding its presence in Northeast Florida.
Summary of transaction details
- Property Type: Land
- Transaction Amount: $2,085,000
- Address: 1475 Florida Highway 207
- Market: St. Augustine
Austin Kay from NAI Hallmark facilitated the transaction as the broker for Ocala Herlong LLC, the seller of the Gate Express Carwash property. The buyer, BFC Property Holdings LLC, is a Gate Petroleum affiliate actively pursuing expansion opportunities in Northeast Florida. This sale contributes to their ongoing efforts in the region.
On the Map
$2,085,000
Land
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
7.61%
Cash-on-Cash
-2.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93