Lincoln Memorial University Acquires Mixed-Use Property In Orange Park For $4.68M
1750 Wells Road
$4,680,000
$133/SF
Building Size
35,020 SF
Asset Type
Mixed-use
Closing
Jun 12, 2024
AI
An office and retail building located at 1750 Wells Road in Orange Park was recently sold for $4.68 million. The property spans 35,020 square feet and was acquired by Lincoln Memorial University from the seller, Bayberry Wells Leasing LLC. The asset, with advanced HVAC controls, security systems, and backup power, changed ownership in this transaction. Notably, the property was previously sold in 2017 for $5.25 million.
Summary of transation details:
- Property Type: Mixed-use
- Transaction Amount: $4,680,000
- Market: Orange Park
- Acres: 2.6
- Buyer: Lincoln Memorial University
- Seller: Bayberry Wells Leasing LLC
- Brokers: Austin Kay & Daniel Burkhardt - NAI Capital
- SF: 35,020
- PPSF: $134
The deal was facilitated by Austin Kay and Daniel Burkhardt from NAI Capital, who represented the buyer, Lincoln Memorial University, and the seller, Bayberry Wells Leasing LLC. The involvement of these brokers played a crucial role in ensuring the successful completion of this transaction, providing their expertise in navigating the sale of the office and retail building in Orange Park.
Players
Orange Park Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.39%
Cash-on-Cash
-0.97%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93