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IPS Florida LLC Acquires 101,781 SF Office In West Jacksonville From VyStar Credit Union For $12.65M

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SOLD
$12,650,000

Florida

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Office101,781 SF
Sold 08/02/2022
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SOLD

IPS Florida LLC Acquires 101,781 SF Office In West Jacksonville From VyStar Credit Union For $12.65M

4949 Blanding Boulevard, Jacksonville, Florida 32210, United States

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Office101,781 SF
Sold 08/02/2022
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Summary

FLORIDA
Asset Type:Office
Price Per Square Foot:$124
Total Square Footage:101,781 SF
Transaction Type:Sale

A 12-acre office property located at 4949 Blanding Blvd in West Jacksonville has been sold for a total of $12,650,000. The transaction took place on 08/02/2022. The property spans a total of 101,781 square feet, resulting in a price per square foot of $124. The seller of the property was VyStar Credit Union, while the buyer was IPS Florida LLC, represented by Collin Sewell, Layne Fisher, and Leanne Hernandez. The deal was facilitated by Chuck Diebel from Colliers, who represented the buyer.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $12,650,000
  • Address: 4949 Blanding Blvd, West Jacksonville
  • Market: West Jacksonville
  • Acres: 12

The sale of the office property at 4949 Blanding Blvd in West Jacksonville was completed on 08/02/2022. The buyer, IPS Florida LLC, was represented in the deal by Collin Sewell, Layne Fisher, and Leanne Hernandez. On the other hand, the seller of the property was VyStar Credit Union. Chuck Diebel from Colliers acted as the broker, facilitating the transaction. The office property spans a total of 101,781 square feet, with a sale price of $12,650,000 and a price per square foot of $124.

Players

Chuck Diebel
2 deals$12.7M volume
BROKER

Details

SOLD
IMAGE: Chuck Diebel DATE: 08/02/2022 ADDRESS: 4949 Blanding Blvd MARKET: West Jacksonville ASSET TYPE: Office ~ ACRES: 12 BUYER: IPS Florida LLC - Collin Sewell, Layne Fisher & Leanne Hernandez SELLER: VyStar Credit Union (@VyStarCreditUnion) BROKER: Chuck Diebel - Colliers (@ColliersInternational) SALE PRICE: $12,650,000 SF: 101,781 ~ PPSF: $124

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

$674,666.66

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$44,942.79
Cash-on-Cash Return-1.27%
Monthly Debt Service$59,967.45
Annual Debt Service$719,609.44