Updated Oct 28, 2024
Serota Properties Acquires Retail Property In Bluffton, SC For $25.2M
1121 Fording Island Road, Bluffton, South Carolina 29910, United States
$25,200,000
$212/SF
Building Size
118,440 SF
Asset Type
Retail
Closing
Oct 11, 2022
About this deal
AI
The retail property located at 1121 Fording Island Road in Bluffton, SC has been sold in a transaction. The property spans 118,440 square feet and was sold for a price of $25,200,000, resulting in a price per square foot of $213. The buyer of the property was Serota Properties, while the seller was Jaz Development, LLC.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $25,200,000
- Square Feet: 118,440
- Price per Square Foot: $213
- Address: 1121 Fording Island Road, Bluffton, SC
- Market: Bluffton, SC
The deal was facilitated by brokers Jim Hamilton, Brad Buchanan, Kolarczyk & Andrew Kahn from JLL, who represented both the buyer, Serota Properties, and the seller, Jaz Development, LLC, in the transaction.
Players
Bluffton 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
0.63%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93