Chuck & Eddie Farah Acquire Office Property From Christy Frazier In Jacksonville For $5M
$5,000,000
$250/SF
Building Size
20,000 SF
Asset Type
Office
Closing
May 25, 2025
About this deal
AI
The asset involved in the transaction is an office type property located in Jacksonville. It was sold for a price of $5,000,000 and has a total square footage of 20,000, resulting in a price per square foot of $250.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $5,000,000
- Buyer: Chuck & Eddie Farah
- Seller: Christy Frazier
- Brokerage: Sam Middlekauff, Matthew Clark & Olivia Steinemann - Colliers
- Year of original acquisition: 2023
- Original acquisition price: $4,000,000
- Market: Jacksonville
The transaction reflects the effort of Christy Frazier, who originally acquired the property as a strategic decision for downtown development. The new owners, Chuck & Eddie Farah, are local to Jacksonville and aim to support the resurgence of the Downtown area.
Players
Market Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.17%
Cash-on-Cash
-0.91%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93