Marcus & Millichap Brokers Sell Retail Property In Jacksonville For $4.15M
SOLD
$4,150,000
Florida
See Similar DealsRetail3,074 SF
Sold 04/06/2022
SOLD
Marcus & Millichap Brokers Sell Retail Property In Jacksonville For $4.15M
3860 University Boulevard West, Jacksonville, Florida 32217, United States
See Similar DealsRetail3,074 SF
Sold 04/06/2022
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$1,350
Total Square Footage:3,074 SF
Transaction Type:Sale
The retail property located at 3860 University Blvd. W in Jacksonville has been sold in a recent transaction. The sale was facilitated by brokers Donald Gilchrist and Ryan Nee of Marcus & Millichap. The property spans approximately 3,074 square feet and was sold for a price of $4,150,000, resulting in a price per square foot of $1,350.
Summary of transaction details
- Property Type: Retail
- Sale Price: $4,150,000
- Square Footage: 3,074
- Price Per Square Foot: $1,350
- Date: 04/06/2022
- Address: 3860 University Blvd. W.
- Market: Jacksonville
- Brokers: Donald Gilchrist & Ryan Nee - Marcus & Millichap
The transaction involved the collaboration of Donald Gilchrist and Ryan Nee, who represented the buyer and seller respectively. They played a pivotal role in successfully closing the deal for this retail property in Jacksonville.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$221,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$14,744.08
Cash-on-Cash Return-1.27%
Monthly Debt Service$19,673.12
Annual Debt Service$236,077.41
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