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
Jacksonville Land Market Snapshot
Boundary boundary · Land · Sale transactions
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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