David B. Smith Acquires Single Family Home In Charlotte For $7.6M
$7,600,000
$760/SF
Building Size
10,000 SF
Asset Type
Single Family
Closing
Nov 20, 2023
AI
Sonic Automotive Inc. CEO David B. Smith, through Foxcroft Equity LLC, has completed the purchase of a single-family home on the 7300 block of Baltusrol Lane in Charlotte. The property was sold for $7.6 million, potentially making it the highest-priced home sale in Mecklenburg County for 2023. The home spans 10,000 square feet and has a price per square foot of $760.
Summary of transaction details
- Property Type: Single Family
- Transaction Amount: $7,600,000
- Square Footage: 10,000
- Price per Square Foot: $760
- Buyer: David B. Smith
- Market: Charlotte, NC
David B. Smith, the CEO of Sonic Automotive Inc., completed the purchase of this property through his company Foxcroft Equity LLC. The transaction marks a significant acquisition in the real estate market, showcasing Smith's investment interests in high-value homes in the Charlotte, NC area.
Players
Market Single Family Market Snapshot
Boundary boundary · Single Family · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.09%
Cash-on-Cash
-0.60%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93