Merritt Properties Acquires 16 Acres Of Land In North Jacksonville For $1.2M
SOLD
$1,200,000
National
See Similar DealsLand
Sold 03/31/2023
SOLD
Merritt Properties Acquires 16 Acres Of Land In North Jacksonville For $1.2M
Intersection Of Zoo Parkway And Imeson Park Boulevard
See Similar DealsLand
Sold 03/31/2023
Summary
Asset Type:Land
Transaction Type:Sale
The transaction involves the sale of a land property located at the intersection of Zoo Parkway and Imeson Park Boulevard in North Jacksonville. The land spans approximately 16 acres and was sold on 03/31/2023.
Summary of transaction details:
- Property Type: Land
- Transaction Amount: $1,200,000
- Address: Intersection of Zoo Parkway and Imeson Park Boulevard
- Market: North Jacksonville
- Asset Type: Land
- Acres: 16
Merritt Properties, represented by Gary Swatko, acted as the buyer in the transaction. The seller, Imeson Investments LLC, was represented by Luke Pope from JLL. Pat Franklin & Bobby Lanigan from Merritt Properties served as the buyer's representatives during the deal.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$64,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$4,263.34
Cash-on-Cash Return-1.27%
Monthly Debt Service$5,688.61
Annual Debt Service$68,263.35
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