Daily limit: 0/10
Jim Van Kirk - Smith Douglas Homes Acquires 37-Acre Development Site In Conyers For $3.6M
SOLD
$3,600,000
Georgia
See Similar DealsDevelopment Site
Sold 02/14/2024
SOLD
Jim Van Kirk - Smith Douglas Homes Acquires 37-Acre Development Site In Conyers For $3.6M
Glen Road Northeast & Old Covington Road Northeast
See Similar DealsDevelopment Site
Sold 02/14/2024
Summary
GEORGIA
Asset Type:Development Site
Transaction Type:Sale
A 37-acre development site located on Glen Road in Conyers, GA, was recently sold for $3.6 million. The property was acquired by Smith Douglas Homes from Blue River Development, LLC.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $3,600,000
- Address: Glen Road Northeast & Old Covington Road Northeast
- Market: Conyers, GA
- Buyer: Jim Van Kirk - Smith Douglas Homes
- Seller: Michael Meshkaty - Blue River Development, LLC
Blue River Development, LLC, a renowned real estate developer, finalized the sale of the 37-acre property to facilitate the development of a 139-town home community. Jim Van Kirk from Smith Douglas Homes acted as the buyer in this transaction, while Michael Meshkaty from Blue River Development, LLC, represented the seller.
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$192,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$12,790.04
Cash-on-Cash Return-1.27%
Monthly Debt Service$17,065.84
Annual Debt Service$204,790.04
Is there something missing? Send suggestions