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Randy Marion Cadillac Acquires Claude Nolan Cadillac Property In Jacksonville For $13.75M

Property Image
SOLD
$13,750,000

Florida

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Retail48,865 SF
Sold 06/05/2023
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Property Image
SOLD

Randy Marion Cadillac Acquires Claude Nolan Cadillac Property In Jacksonville For $13.75M

4700 Southside Blvd, Jacksonville, FL 32216, USA

See Similar Deals
Retail48,865 SF
Sold 06/05/2023
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:Retail
Price Per Square Foot:$281
Total Square Footage:48,865 SF
Transaction Type:Sale

Randy Marion Cadillac of Jacksonville LLC has acquired Claude Nolan Cadillac, a dealership and property in Jacksonville, Florida. The purchase includes a 7.5-acre property located at 4700 Southside Boulevard. The property is situated in the Jacksonville market and is classified as a retail asset. The transaction took place on 06/05/2023.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $13,750,000
  • Address: 4700 Southside Boulevard, Jacksonville, Florida
  • Market: Jacksonville
  • Acres: 7.5
  • Buyer: Randy Marion Cadillac - Shawn Spencer
  • Seller: 4616 Corp. - John Helmick Jr., Marc Helmick & Gayla Poythress
  • Lender: Ally Bank
  • SF: 48,865
  • Price per square foot: $281

This acquisition signifies the expansion of Randy Marion Automotive Group beyond North Carolina. It is important to note that Claude Nolan Cadillac is now part of the Randy Marion Cadillac brand.

Players

Ally Bank
Ally Bank
LENDER

Details

SOLD
IMAGE: Shawn Spencer DATE: 06/05/2023 ADDRESS: 4700 Southside Boulevard MARKET: Jacksonville ASSET TYPE: Retail ~ ACRES: 7.5 BUYER: Randy Marion Cadillac - Shawn Spencer SELLER: 4616 Corp. - John Helmick Jr., Marc Helmick & Gayla Poythress LENDER: Ally Bank SALE PRICE: $13,750,000 SF: 48,865 ~ PPSF: $281 NOTE: Randy Marion Cadillac of Jacksonville LLC has acquired Claude Nolan Cadillac, a dealership and property in Jacksonville, Florida. The purchase includes the 7.5-acre property along Southside Boulevard and marks the expansion of Randy Marion Automotive Group beyond North Carolina.

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

$733,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$48,850.86
Cash-on-Cash Return-1.27%
Monthly Debt Service$65,182.01
Annual Debt Service$782,184.18