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Brett McKee Of International Management Company Acquires Office In Ponte Vedra Beach For $3.48M
SOLD
$3,480,000
Florida
See Similar DealsOffice7,392 SF
Sold 02/24/2025
SOLD
Brett McKee Of International Management Company Acquires Office In Ponte Vedra Beach For $3.48M
208 Ponte Vedra Park Drive
See Similar DealsOffice7,392 SF
Sold 02/24/2025
Summary
FLORIDA
Asset Type:Office
Price Per Square Foot:$470
Total Square Footage:7,392 SF
Transaction Type:Sale
A 7,392-square-foot office property located at 208 Ponte Vedra Park Drive in Ponte Vedra Beach was sold for $3,480,000. The asset, which encompasses 0.82 acres, was constructed in 1995 and underwent renovations in 2022.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $3,480,000
- Seller: Family First Investment Group LLC
- Buyer: Brett McKee - International Management Company (IMC)
- Sale Price Per Square Foot: $471
- Last Sold Price: $1,100,000 (2014)
This transaction involved Brett McKee representing International Management Company (IMC) in the acquisition of the property from Family First Investment Group LLC. The deal marks an important step for IMC in expanding their portfolio in the Ponte Vedra Beach market.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$185,599.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$12,363.71
Cash-on-Cash Return-1.27%
Monthly Debt Service$16,496.98
Annual Debt Service$197,963.70
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