Prestige Properties & Development Acquires Retail Property In Jacksonville For $29M
SOLD
$29,000,000
North Carolina
See Similar DealsRetail131,780 SF
Sold 10/05/2022
SOLD
Prestige Properties & Development Acquires Retail Property In Jacksonville For $29M
3000 Western Boulevard, Jacksonville, North Carolina 28546, United States
See Similar DealsRetail131,780 SF
Sold 10/05/2022
Summary
NORTH CAROLINA
Asset Type:Retail
Price Per Square Foot:$220
Total Square Footage:131,780 SF
Transaction Type:Sale
The retail property located at 3000 Western Blvd in Jacksonville, NC has been sold. The property encompasses 131,780 square feet, with a sale price of $29,000,000. This translates to a price per square foot of $220.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $29,000,000
- Address: 3000 Western Blvd, Jacksonville, NC
- Market: Jacksonville, NC
- Buyer: Prestige Properties & Development LLC
- Brokers: Lori Schneider & David Gant - Marcus & Millichap
Lori Schneider and David Gant from Marcus & Millichap represented the buyer, Prestige Properties & Development LLC, in this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,546,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$103,030.87
Cash-on-Cash Return-1.27%
Monthly Debt Service$137,474.80
Annual Debt Service$1,649,697.54
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