Updated Oct 28, 2024
Prestige Properties & Development Acquires Retail Property In Jacksonville For $29M
3000 Western Boulevard, Jacksonville, North Carolina 28546, United States
$29,000,000
$220/SF
Building Size
131,780 SF
Asset Type
Retail
Closing
Oct 4, 2022
About this deal
AI
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.
On the Map
$29,000,000
$220/SF
Retail
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Players
Jacksonville Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.55%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93