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2901 E. New York Ave, DeLan...

Updated Oct 29, 2024

Onicx Group Acquires 40-Acre Land In DeLand For $3.8M With Coldwell Banker Commercial Benchmark's Bob Rand As Seller's Rep
SOLDLand

Onicx Group Acquires 40-Acre Land In DeLand For $3.8M With Coldwell Banker Commercial Benchmark's Bob Rand As Seller's Rep

2901 E. New York Ave, DeLand, FL 32724, USA

$3,800,000

Building Size

Asset Type

Land

Closing

Jan 2, 2023

About this deal

AI

The transaction involved the sale of a land property located at 2901 E. New York Ave in DeLand. The property spans approximately 40 acres, making it a significant asset in the market.

Summary of transaction details:

  • Property Type: Land
  • Transaction Amount: $3,800,000
  • Market: DeLand
  • Address: 2901 E. New York Ave
  • Buyer: Onicx Group - Scott Claiborne & Arjun Choudhary; Aries Capital - Neil Freeman, Matt Carney & Brandon Perdeck
  • Seller: HY-EM USA Properties
  • Seller's Representative: Bob Rand - Coldwell Banker Commercial Benchmark
  • Lender: Pilot Bank of Tampa

The buyers were represented by Scott Claiborne and Arjun Choudhary from Onicx Group, as well as Neil Freeman, Matt Carney, and Brandon Perdeck from Aries Capital. On the other side of the transaction, Bob Rand, from Coldwell Banker Commercial Benchmark, acted as the seller's representative. The lending institution involved in the deal was Pilot Bank of Tampa.

Players

Bob Rand

Coldwell Banker

Broker

$3.8M

vol

1 deal

Broker

Deland 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

4.17%

Cash-on-Cash

-1.19%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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