Updated Dec 23, 2025
LBA Realty Acquires Industrial Property In Capitol Heights, MD For $20.4M
8700 Ritchie Drive Capitol Heights, Maryland 20743, Usa
$20,400,000
Building Size
—
Asset Type
Industrial
Closing
Jun 12, 2023
About this deal
AI
The industrial property located at 8700 Ritchie Drive in Capitol Heights, MD was recently sold in a transaction on June 12, 2023. The property spans a total of 103,193 square feet and was sold for a price of $20,400,000. This translates to a price per square foot of $198.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $20,400,000
- Address: 8700 Ritchie Drive, Capitol Heights, MD
- Market: Capitol Heights, MD
- Buyer: LBA Realty
- Seller: The Pinkard Group & Principal Asset Management
- Square Footage: 103,193
- Price per Square Foot: $198
LBA Realty served as the buyer in this transaction, while The Pinkard Group & Principal Asset Management acted as the sellers. This successful deal not only highlights the property's value and attractiveness, but also demonstrates the strong presence and expertise of LBA Realty as a prominent player in the commercial real estate market.
Players
Capitol Heights Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.78%
Cash-on-Cash
-0.22%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93