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4894 Front Street

Updated Dec 12, 2024

David Kendall Of SVN Nautilus And Carl Lentz Of SVN Alliance Complete $21.96M Marina Sale In Ponce Inlet
SOLDMarina

David Kendall Of SVN Nautilus And Carl Lentz Of SVN Alliance Complete $21.96M Marina Sale In Ponce Inlet

4894 Front Street & 4877 Front Street

$21,960,000

Building Size

—

Asset Type

Marina

Closing

Dec 11, 2024

About this deal

AI

The transaction involves the sale of a marina located at 4894 Front Street and 4877 Front Street in Ponce Inlet, Florida. The property encompasses 15.87 acres and includes 1,300 feet of Halifax River frontage, a full-service marina, and a renowned restaurant known as Down the Hatch Seafood Restaurant. The sale price for the property was $21,960,000.

Summary of transaction details:

  • Property Type: Marina
  • Transaction Amount: $21,960,000
  • Address: 4894 Front Street & 4877 Front Street
  • Market: Ponce Inlet
  • Acres: 15.87
  • Brokers: Carl Lentz - SVN Alliance; David Kendall - SVN Nautilus

David Kendall of SVN Nautilus and Carl Lentz of SVN Alliance were the brokers who facilitated this significant transaction. Their roles involved representing the parties in the sale of the property, showcasing their expertise in handling real estate deals within this market.

Players

David Kendall

SVN

Broker

$22M

vol

1 deal

Broker
Bilt advertisement

Ponce Inlet Marina Market Snapshot

Boundary boundary · Marina · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.72%

Cash-on-Cash

-0.21%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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