Edgewood Grande LLC Acquires Retail Property In Jacksonville For $2.15M
SOLD
$2,150,000
Florida
See Similar DealsRetail61,085 SF
Sold 07/06/2020
SOLD
Edgewood Grande LLC Acquires Retail Property In Jacksonville For $2.15M
3118 Edgewood Ave W, Jacksonville, FL, USA
See Similar DealsRetail61,085 SF
Sold 07/06/2020
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$35
Total Square Footage:61,085 SF
Transaction Type:Sale
The retail property located at 3118 Edgewood Ave. W. in Jacksonville has been sold. The transaction took place on July 6, 2021. The property, spanning 61,085 square feet, was purchased by Edgewood Grande LLC from Tom Garvin. The sale price was $2,150,000, resulting in a price per square foot of $35. The property occupies 6.25 acres, with a price per acre of $344,000.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $2,150,000
- Date: 07/06/2021
- Address: 3118 Edgewood Ave. W.
- Market: Jacksonville
- Square Footage: 61,085
- Price per Square Foot: $35
- Acreage: 6.25
- Price per Acre: $344,000
The deal was facilitated by the brokers Austin Kay and Eric Yi of NAI Hallmark, representing both the buyer and the seller.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$114,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$7,638.49
Cash-on-Cash Return-1.27%
Monthly Debt Service$10,192.10
Annual Debt Service$122,305.16
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