Saglo Development Corp. Sells Retail Property In Jacksonville For $5.8M
SOLD
$5,800,000
+ 1
Florida
See Similar DealsRetail64,736 SF
Sold 10/11/2021
SOLD
Saglo Development Corp. Sells Retail Property In Jacksonville For $5.8M
8299 West Beaver Street, Jacksonville, FL, USA
See Similar DealsRetail64,736 SF
Sold 10/11/2021
+ 1
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$89
Total Square Footage:64,736 SF
Transaction Type:Sale
The retail property located at 8299 W Beaver St in Jacksonville has been sold. The property, owned by Saglo Development Corp., was listed for sale with an asking price of $5,800,000. The sale was brokered by Drew Kristol, Kirk Olson, Chad Atwood, and Simon Grigoryan of Marcus & Millichap. The transaction took place on October 11, 2021.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $5,800,000
- Address: 8299 W Beaver St, Jacksonville
- Market: Jacksonville
- Square Footage: 64,736
- Price per Square Foot: $90
The sale of this retail property demonstrates the successful collaboration between Saglo Development Corp. and the brokerage team at Marcus & Millichap led by Drew Kristol, Kirk Olson, Chad Atwood, and Simon Grigoryan. This transaction adds to the portfolio of both the buyer and the seller, further strengthening the real estate market in Jacksonville.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$309,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$20,606.19
Cash-on-Cash Return-1.27%
Monthly Debt Service$27,494.96
Annual Debt Service$329,939.51
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