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
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