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Miller Valentine Investments Acquires Self Storage Development Site In Jacksonville For $2.3M

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SOLD
$2,300,000

Florida

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Self Storage105,460 SF
Sold 12/05/2024
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Property Image
SOLD

Miller Valentine Investments Acquires Self Storage Development Site In Jacksonville For $2.3M

13435 Main Street

See Similar Deals
Self Storage105,460 SF
Sold 12/05/2024
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Summary

FLORIDA
Asset Type:Self Storage
Price Per Square Foot:$21
Total Square Footage:105,460 SF
Transaction Type:Sale

The asset involved in the transaction is a self-storage development site located at 13435 Main Street in Jacksonville. The sale price is $2,300,000, encompassing a total square footage of 105,460 with a price per square foot of $21.

Summary of transaction details:

The deal was facilitated by brokers David Perlleshi, Frank DeSalvo, and Shaun Mayberry, all of whom represent Franklin Street in this transaction. Their involvement was crucial in navigating the property exchange between Miller Valentine Investments and Kaufman Lynn Construction.

Players

Shaun Mayberry
2 deals$7.6M volume(904) 899-0310
BROKER

David Perlleshi
Franklin Street
3 deals$14.5M volume(704) 251-2712
BROKER

Frank DeSalvo
Franklin Street
3 deals$14.5M volume(704) 251-2634
BROKER

Details

SOLD
IMAGE: Shaun Mayberry, Frank DeSalvo & David Perlleshi DATE: 12/05/2024 ADDRESS: 13435 Main Street MARKET: Jacksonville ASSET TYPE: Self Storage Development Site BUYER: Miller Valentine Investments SELLER: Kaufman Lynn Construction BROKERS: David Perlleshi (@DavidPerlleshi_cre) , Frank DeSalvo & Shaun Mayberry - Franklin Street (@FranklinStreet.CRE) SALE PRICE: $2,300,000 SF: 105,460 ~ PPSF: $21

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

$122,666.66

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$8,171.42
Cash-on-Cash Return-1.27%
Monthly Debt Service$10,903.17
Annual Debt Service$130,838.08