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Raleigh Enterprises Acquires Land On Atlantic Boulevard In Jacksonville For $24.3M

Property Image
SOLD
$24,300,000

Florida

See Similar Deals
Land
Sold 06/16/2023
the dealdetailscomps
Property Image
SOLD

Raleigh Enterprises Acquires Land On Atlantic Boulevard In Jacksonville For $24.3M

Jacksonville

See Similar Deals
Land
Sold 06/16/2023
the dealdetailscomps

Summary

FLORIDA
Asset Type:Land
Transaction Type:Sale

The Hollywood-based firm Teviac Florida LLC, a subsidiary of Raleigh Enterprises, has acquired a commercial property on Atlantic Boulevard in Jacksonville for $24.3 million. The property spans 274,000 square feet and was previously sold for $6 million in May 2022. It is conveniently located near various businesses in the area.

Summary of transaction details

  • Property Type: Land
  • Transaction Amount: $24,300,000
  • Buyer: Raleigh Enterprises
  • Seller: Net Lease Alliance - Ron Johnston
  • Market: Jacksonville

This significant transaction was facilitated by Raleigh Enterprises as the buyer and Net Lease Alliance - Ron Johnston as the seller's representative.

Players

NA
Net Lease Alliance
SELLER

Details

SOLD
IMAGE: Ron Johnston DATE: 06/16/2023 MARKET: Jacksonville ASSET TYPE: Land BUYER: Raleigh Enterprises SELLER: Net Lease Alliance - Ron Johnston SALE PRICE: $24,300,000 BSF: 274,000 ~ PPBSF: $89 NOTE: Hollywood-based firm Teviac Florida LLC, a subsidiary of Raleigh Enterprises, has purchased a commercial property on Atlantic Boulevard in Jacksonville for $24.3 million. The 274,000-square-foot property, previously sold for $6 million in May 2022, is situated near several businesses in the area.

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$86,332.77
Cash-on-Cash Return-1.27%
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