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Urban Capital Realty Acquires Retail Property In Springfield, Jacksonville For $2.375M

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SOLD
$2,375,000

Florida

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Retail65,879 SF
Sold 10/05/2021
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Property Image
SOLD

Urban Capital Realty Acquires Retail Property In Springfield, Jacksonville For $2.375M

East 27th Street & East 7th Avenue, Hialeah, FL, USA

See Similar Deals
Retail65,879 SF
Sold 10/05/2021
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Summary

FLORIDA
Asset Type:Retail
Price Per Square Foot:$36
Total Square Footage:65,879 SF
Transaction Type:Sale

The retail property located at 27 E. Seventh St in Springfield, Jacksonville was recently sold in a transaction that took place on 10/05/2021. The property spans an area of 2.77 acres and is owned by TSG Realty. The buyer in this transaction was Urban Capital Realty, LLC. The sale price for the property was $2,375,000, resulting in a price per square foot of $36. The deal was facilitated by brokers Eric Yi and Austin Kay from NAI Hallmark.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $2,375,000
  • Date: 10/05/2021
  • Address: 27 E. Seventh St
  • Market: Springfield, Jacksonville
  • Acres: 2.77
  • Buyer: Urban Capital Realty, LLC
  • Seller: TSG Realty
  • Brokers: Eric Yi & Austin Kay - NAI Hallmark
  • Square Footage: 65,879
  • Price per Square Foot: $36

Eric Yi and Austin Kay from NAI Hallmark played crucial roles as brokers in this transaction, representing the buyer and seller respectively. They successfully facilitated the deal, ensuring a smooth process for both parties involved. The sale of this retail property highlights the expertise and professionalism of these brokers in the real estate industry.

Players

Austin Kay
7 deals$20.3M volume
BROKER

Eric Yi
NAI Global
4 deals$10.1M volume
BROKER

SELLER

Details

SOLD
IMAGE: Austin Kay & Eric Yi DATE: 10/05/2021 ADDRESS: 27 E. Seventh St MARKET: Springfield, Jacksonville ASSET TYPE: Retail ~ ACRES: 2.77 BUYER: Urban Capital Realty, LLC SELLER: TSG Realty BROKERS: Eric Yi & Austin Kay - NAI Hallmark SALE PRICE: $2,375,000 SF: 65,879 ~ PPSF: $36

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$126,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$8,437.87
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,258.71
Annual Debt Service$135,104.54