Holley Capital LLC Purchases Fortune Plaza Office Building From Acorn Ridge Plaza LLC For $6.5M
6622 Southpoint Drive South
$6,500,000
$90/SF
Building Size
71,711 SF
Asset Type
Office
Closing
Oct 22, 2024
AI
The property involved in this transaction is an office asset located at 6622 Southpoint Drive South in Jacksonville. The transaction was completed for a total amount of $6,500,000. The asset spans 71,711 square feet and sits on 3.52 acres of land.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $6,500,000
- Address: 6622 Southpoint Drive South
- Market: Jacksonville
- Square Footage: 71,711 SF
- Price Per Square Foot: $91
- Buyer: Holley Capital LLC
- Seller: Acorn Ridge Plaza LLC
- Brokers: Daniel Burkhardt & Keith Goldfaden - NAI Hallmark
- Mortgage: $3.4 million from the seller
- Lease Management: NAI Hallmark managing and leasing the property
- Available Space: 10,180 square feet on the fourth floor
Key individuals involved in the transaction include brokers Daniel Burkhardt and Keith Goldfaden, who represented the sale facilitated by NAI Hallmark. The buyer, Holley Capital LLC, acquired the asset from Acorn Ridge Plaza LLC, marking a significant transaction in the Jacksonville office market.
Players
Jacksonville 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
2.44%
Cash-on-Cash
-0.70%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93