Maryland Management Company Acquires Multifamily Property On Arrowhead Drive In Jacksonville For $22.8M
SOLD
$22,800,000
Florida
See Similar DealsMultiFamily212,591 SF
Sold 08/09/2020
SOLD
Maryland Management Company Acquires Multifamily Property On Arrowhead Drive In Jacksonville For $22.8M
10101 Arrowhead Dr, Jacksonville, FL 32257, USA
See Similar DealsMultiFamily212,591 SF
Sold 08/09/2020
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$107
Total Square Footage:212,591 SF
Transaction Type:Sale
The multifamily property located at 10101 Arrowhead Drive in Jacksonville was recently sold for a total price of $22,800,000. The transaction took place on August 9, 2020, and involved a total of 200 units. The price per unit was approximately $114,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $22,800,000
- Address: 10101 Arrowhead Drive
- Market: Jacksonville
The buyer in this transaction was Maryland Management Company. The deal was facilitated by the brokers Joe Ayers and Cliff Taylor from CBRE.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,216,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$81,003.58
Cash-on-Cash Return-1.27%
Monthly Debt Service$108,083.63
Annual Debt Service$1,297,003.58
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