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
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