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Highwoods Properties Sells Office Building In Raleigh To Duy Khuong Ong For $11M
SOLD
$11,000,000
North Carolina
See Similar DealsRetail75,246 SF
Sold 06/30/2023
SOLD
Highwoods Properties Sells Office Building In Raleigh To Duy Khuong Ong For $11M
5000 Falls of Neuse Road Raleigh, North Carolina 27609, USA
See Similar DealsRetail75,246 SF
Sold 06/30/2023
Summary
NORTH CAROLINA
Asset Type:Retail
Price Per Square Foot:$146
Total Square Footage:75,246 SF
Transaction Type:Sale
Highwoods Properties has sold a local office building located at 5000 Falls of Neuse Road in Raleigh. The property, measuring 75,246 square feet, was sold for $11 million, resulting in a price per square foot of $146. The transaction took place on June 30, 2023. The buyer of the office building was Duy Khuong Ong.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $11,000,000
- Square Feet: 75,246
- Price Per Square Foot: $146
- Address: 5000 Falls of Neuse Road, Raleigh, NC
- Market: Raleigh, NC
This sale is part of Highwoods Properties' strategy to fund new projects. Through the transaction, Highwoods Properties has successfully generated funds to support its future endeavors.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$586,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$39,080.67
Cash-on-Cash Return-1.27%
Monthly Debt Service$52,145.61
Annual Debt Service$625,747.34
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