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Intersection Of Zoo Parkway...

Merritt Properties Acquires 16 Acres Of Land In North Jacksonville For $1.2M
SOLDLand

Merritt Properties Acquires 16 Acres Of Land In North Jacksonville For $1.2M

Intersection Of Zoo Parkway And Imeson Park Boulevard

$1,200,000

Building Size

Asset Type

Land

Closing

Mar 31, 2023

AI

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

Luke Pope

JLL

Broker

$126.3M

vol

5 deals

Broker
MP
Merritt PropertiesBuyer

Market Land Market Snapshot

Boundary boundary · Land · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

13.22%

Cash-on-Cash

-3.78%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93