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Bradford Allen Realty Services Acquires 242,300 SF Office In Jacksonville For $30M

Property Image
SOLD
$30,000,000

Florida

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Office242,300 SF
Sold 09/02/2021
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Property Image
SOLD

Bradford Allen Realty Services Acquires 242,300 SF Office In Jacksonville For $30M

4190 Belfort Road, Jacksonville, FL, USA

See Similar Deals
Office242,300 SF
Sold 09/02/2021
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:Office
Price Per Square Foot:$123
Total Square Footage:242,300 SF
Transaction Type:Sale

The office property located at 4190 Belfort Road & 4345 Southpoint Blvd in Jacksonville has been sold for a price of $30,000,000. The property spans across 17.7 acres and has a total square footage of 242,300. With a price per square foot of $124, this transaction involved Bradford Allen Realty Services as the buyer and LRC Properties, represented by Howard Lavitt, as the seller.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $30,000,000
  • Market: Jacksonville
  • Address: 4190 Belfort Road & 4345 Southpoint Blvd
  • Asset Type: Office
  • Acres: 17.7
  • Price Per Acre: $1,694,915
  • Square Footage: 242,300
  • Price Per Square Foot: $124

Bradford Allen Realty Services acted as the buyer in this transaction, while LRC Properties, represented by Howard Lavitt, served as the seller. The sale of this office property highlights the involvement of key individuals and companies in the deal, contributing to the growth and development of the real estate market in Jacksonville.

Players

BA
Bradford Allen
3 deals$120M volume
BUYER
LP
LRC Properties
SELLER

Details

SOLD
IMAGE: Howard Lavitt DATE: 09/02/2021 ADDRESS: 4190 Belfort Road & 4345 Southpoint Blvd MARKET: Jacksonville ASSET TYPE: Office ~ ACRES: 17.7 ~ PPA: $1,694,915 BUYER: Bradford Allen Realty Services SELLER: LRC Properties - Howard Lavitt SALE PRICE: $30,000,000 SF: 242,300 ~ PPSF: $124

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

$1,600,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$106,583.66
Cash-on-Cash Return-1.27%
Monthly Debt Service$142,215.31
Annual Debt Service$1,706,583.66