Updated Dec 4, 2024
Timber Hill Group And Champion Realty Advisors Acquire 5.97-Acre Truck Parking Yard In Jacksonville For $1.8M
6399 Soutel Drive
$1,800,000
Building Size
—
Asset Type
Parking Lot
Closing
Nov 15, 2023
About this deal
AI
Timber Hill Group and Champion Realty Advisors have acquired a 5.97-acre truck parking yard at 6399 Soutel Drive in Jacksonville for $1.8 million. This purchase allows for the relocation of tenants from an adjacent Norfolk Southern development site, facilitating the expansion of their project without displacing existing tenants.
Summary of transaction details
- Property Type: Parking Lot
- Transaction Amount: $1,800,000
- Address: 6399 Soutel Drive
- Market: Jacksonville
- Asset Type: Parking Lot
- Acres: 5.97
The acquisition was made by Timber Hill Group, represented by Cary Goldman, and Champion Realty Advisors, represented by J.D. Salazar.
Players
Jacksonville Parking Lot Market Snapshot
Boundary boundary · Parking Lot · Sale transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
8.81%
Cash-on-Cash
-2.52%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93