Lance Zar And Evan Rafinia Purchase Retail Asset From Demetree Brothers For $2.5M In Jacksonville
SOLD
$2,500,000
+ 2
Florida
See Similar DealsRetail13,200 SF
Sold 06/13/2025
SOLD
Lance Zar And Evan Rafinia Purchase Retail Asset From Demetree Brothers For $2.5M In Jacksonville
5757 Beney Road
See Similar DealsRetail13,200 SF
Sold 06/13/2025
+ 2
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$189
Total Square Footage:13,200 SF
Transaction Type:Sale
The retail asset located at 5757 Beney Road in the Jacksonville market has been sold for a total of $2,500,000. The property encompasses a total square footage of 16,105, resulting in a price per square foot of $155.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $2,500,000
- Address: 5757 Beney Road
- Market: Jacksonville
- Square Footage: 16,105
- Price per Square Foot: $155
- Buyer: Lance Zar & Evan Rafinia
- Seller: Demetree Brothers
- Brokers: Sam Middlekauff, Matthew Clark & Olivia Steinemann - Colliers
The transaction involved key individuals including buyers Lance Zar and Evan Rafinia, and sellers Demetree Brothers. The brokerage team representing the transaction consisted of Sam Middlekauff, Matthew Clark, and Olivia Steinemann from Colliers, facilitating the sale of the retail property.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$133,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$8,881.99
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,851.28
Annual Debt Service$142,215.31
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