Mark Grimes & Hugh Merkle Close $2M Land Deal In Stone Harbor
14 2nd Drive
$2,000,000
Building Size
—
Asset Type
Land
Closing
Jun 3, 2024
AI
14 2nd Drive, a bay front lot in Stone Harbor Manor, was sold for $2,000,000 in a recent transaction. Mark Grimes of Berkshire Hathaway HomeServices Fox & Roach represented the buyer, while Hugh Merkle of Compass represented the seller.
Summary of transaction details:
- Property Type: Land
- Transaction Amount: $2,000,000
- Address: 14 2nd Drive
- Market: Stone Harbor
- Buyer's Rep: Mark Grimes - Berkshire Hathaway HomeServices Fox & Roach
- Seller's Rep: Hugh Merkle - Compass
Mark Grimes from Berkshire Hathaway HomeServices Fox & Roach acted as the buyer's representative, while Hugh Merkle of Compass represented the seller in the sale of the bay front lot at 14 2nd Drive, Stone Harbor Manor.
Players
Stone Harbor 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
7.93%
Cash-on-Cash
-2.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93