facebook

traded

+ Submit
Home

/

Deals

/

Florida

/

Land

/

Sale

/

1931 Blanding Boulevard

Brightwork Acquisitions, LLC Acquires 1.12-Acre Land On Blanding Blvd. In Jacksonville
SOLDLand

Brightwork Acquisitions, LLC Acquires 1.12-Acre Land On Blanding Blvd. In Jacksonville

1931 Blanding Boulevard

$1,800,000

Building Size

Asset Type

Land

Closing

Oct 9, 2023

AI

A 1.12-acre property located at 1931 Blanding Boulevard on Jacksonville's Westside has been sold for $1.8 million. The buyer, Brightwork Acquisitions, LLC, plans to develop the property into a car wash, taking advantage of the growing demand in the Northeast Florida market.

Summary of transaction details

  • Property Type: Land
  • Transaction Amount: $1,800,000
  • Address: 1931 Blanding Boulevard, Jacksonville
  • Market: Jacksonville
  • Size: 1.12 acres
  • Buyer: Brightwork Acquisitions, LLC
  • Seller: CJX5 LLC
  • Broker: Austin Kay - NAI Hallmark

The sale of this property showcases the growing demand for car wash facilities in the Northeast Florida market. Brightwork Acquisitions, LLC recognized the potential of this 1.12-acre land and seized the opportunity to develop it into a car wash, catering to the needs of the local community.

Players

Austin Kay

NAI Global

Broker

$20.3M

vol

7 deals

Broker

Jacksonville Land Market Snapshot

Boundary boundary · Land · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

8.81%

Cash-on-Cash

-2.52%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93