Gummakonda Properties, Inc Acquires Retail Property In College Park, Jacksonville For $5.15M
10690 Lem Turner Road, Jacksonville, Florida 32218, United States
$5,150,000
$88/SF
Building Size
58,166 SF
Asset Type
Retail
Closing
Aug 26, 2022
About this deal
AI
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.
On the Map
$5,150,000
$88/SF
Retail
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Players
Jacksonville Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.08%
Cash-on-Cash
-0.88%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93