Gummakonda Properties, Inc Acquires Retail Property In College Park, Jacksonville For $5.15M
SOLD
$5,150,000
Florida
See Similar DealsRetail58,166 SF
Sold 08/27/2022
SOLD
Gummakonda Properties, Inc Acquires Retail Property In College Park, Jacksonville For $5.15M
10690 Lem Turner Road, Jacksonville, Florida 32218, United States
See Similar DealsRetail58,166 SF
Sold 08/27/2022
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$88
Total Square Footage:58,166 SF
Transaction Type:Sale
The retail property located at 10690 Lem Turner Road in College Park, Jacksonville, was recently sold in a closed transaction. The property spans approximately 5.67 acres and is situated in the College Park market.
Summary of transaction details
- Property Type: Retail
- Sale Price: $5,150,000
- Square Footage: 58,166
- Price per Square Foot: $89
- Date: 08/27/2022
- Buyer: Gummakonda Properties, Inc
- Seller: West Palm Property Investments, Inc
- Brokers: Simon V. Grigoryan & Edwinn Bruchman - The Simon Retail Group - Marcus & Millichap
The property was sold for a total price of $5,150,000, with a square footage of 58,166 and a price per square foot of $89. The transaction was facilitated by brokers Simon V. Grigoryan and Edwinn Bruchman of The Simon Retail Group, representing the buyer and seller, respectively.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$274,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$18,296.86
Cash-on-Cash Return-1.27%
Monthly Debt Service$24,413.63
Annual Debt Service$292,963.53
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