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BFC Property Holdings LLC Acquires Land In St. Augustine For $2.085M

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SOLD
$2,085,000

Florida

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Land
Sold 11/30/2023
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Property Image
SOLD

BFC Property Holdings LLC Acquires Land In St. Augustine For $2.085M

1475 Florida Highway 207

See Similar Deals
Land
Sold 11/30/2023
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:Land
Transaction Type:Sale

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.

Players

Austin Kay
NAI Global
Austin Kay
7 deals$20.3M volume
BROKER

Details

SOLD
IMAGE: Austin Kay DATE: 11/30/2023 ADDRESS: 1475 Florida Highway 207 MARKET: St. Augustine ASSET TYPE: Land BUYER: BFC Property Holdings LLC SELLER: Ocala Herlong LLC - Michael S. Setzer BROKER: Austin Kay - NAI Hallmark (@NAIHallmark) SALE PRICE: $2,085,000 NOTE: NAI Hallmark announced the $2.085 million sale of a Gate Express Carwash property in St. Augustine, with Vice President Austin Kay brokering the transaction for seller Ocala Herlong LLC. The buyer, BFC Property Holdings LLC, a Gate Petroleum affiliate, continues its expansion efforts in Northeast Florida.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$111,199.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$7,407.57
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,883.96
Annual Debt Service$118,607.56