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933 Blanding Ave

Ira Barton Acquires Retail Property In Orange Park From Robert Menz For $1,345,000
SOLDRetail

Ira Barton Acquires Retail Property In Orange Park From Robert Menz For $1,345,000

933 Blanding Ave

$1,345,000

$229/SF

Building Size

5,871 SF

Asset Type

Retail

Closing

Nov 30, 2011

AI

The property asset involved in this transaction is a retail space located at 933 Blanding Ave in the Orange Park market. The asset encompasses a total square footage of 5,871 and was sold for a transaction amount of $1,345,000.00.

Summary of transaction details:

This deal involved key individuals including the buyer Ira Barton and the seller Robert Menz, facilitated by brokers Arthur Porosoff and Ray Turchi from Marcus & Millichap representing both parties in the transaction.

Players

Ray Turchi

Marcus & Millichap

Broker

$43.5M

vol

8 deals

Broker

Ira Barton

Buyer
Buyer

Robert Menz

Seller
Seller

Orange Park Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

11.79%

Cash-on-Cash

-3.37%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93