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Marcus & Millichap Sells 19 Acres Of Land In Palm Coast, Florida For $6.25M

Property Image
SOLD
$6,250,000
Ray Turchi
David Vaughan

Florida

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Land
Sold 10/02/2023
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Property Image
SOLD

Marcus & Millichap Sells 19 Acres Of Land In Palm Coast, Florida For $6.25M

Land
Sold 10/02/2023
Ray Turchi
David Vaughan
the dealplayerscompscontact
Contact now

Summary

Asset Type:Land
Transaction Type:Sale

Marcus & Millichap has sold 19 acres of land on Whiteview Parkway in Palm Coast, Florida, for $6.25 million. The land is designated for 316 Class-A apartments and is located near Palm Coast Town Center, providing access to various amenities.

Summary of transaction details

  • Property Type: Land
  • Transaction Amount: $6,250,000
  • Address: Whiteview Parkway, Palm Coast, Florida
  • Market: Palm Coast
  • Asset Type: Land
  • Acres: 19

The sale was facilitated by Ray Turchi and David Vaughan from Marcus & Millichap. They served as the brokers in the transaction, representing the parties involved in the sale of the 19-acre land.

Players

David Vaughan
Marcus & Millichap
David Vaughan
8 deals$43.5M volume
BROKER
Ray Turchi
Marcus & Millichap
Ray Turchi
8 deals$43.5M volume
BROKER

Details

SOLD
IMAGE: David Vaughan & Ray Turchi DATE: 10/02/2023 ADDRESS: Whiteview Parkway MARKET: Palm Coast ASSET TYPE: Land ~ ACRES: 19 BROKERS: Ray Turchi & David Vaughan - Marcus & Millichap (@MarcusMillichap_FL) SALE PRICE: $6,250,000 NOTE: Marcus & Millichap has sold 19 acres on Whiteview Parkway in Palm Coast, Florida, for $6.25 million. The land is designated for 316 Class-A apartments and is located near Palm Coast Town Center, providing access to various amenities.

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Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$333,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$22,204.94
Cash-on-Cash Return-1.27%
Monthly Debt Service$29,628.19
Annual Debt Service$355,538.26