Lockhart Management Group Inc Acquires 10 Acres Of Land In Clermont For $3.01M
$3,010,000
Building Size
—
Asset Type
Land
Closing
Nov 12, 2023
AI
Lockhart Management Group Inc.-linked LMG Clermont 2 LLC has purchased approximately 10 acres of land near downtown Clermont for $3.1 million. The property, located at South Hwy 27 and East Desoto Street, is expected to contribute to the growing demand for self-storage development in the Orlando area.
Summary of transaction details:
- Property Type: Land
- Transaction Amount: $3,010,000
- Address: South Hwy 27 & East Desoto Street
- Market: Clermont
- Buyer: Lockhart Management Group Inc - James Lockhart
- Seller: Fonstock Real Estate Investments LLC - Carlos Alberto da Fonseca & Fonseca Family Holding Ltd
The transaction was facilitated by James Lockhart of Lockhart Management Group Inc, representing the buyer, and Carlos Alberto da Fonseca and Fonseca Family Holding Ltd, representing the seller, Fonstock Real Estate Investments LLC.
Market 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
5.27%
Cash-on-Cash
-1.51%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93