Remnant Church Acquires Church In Richmond From Emmaus United Methodist For $3.6M
7740 Cherokee Road
$3,600,000
$113/SF
Building Size
31,852 SF
Asset Type
Church
Closing
Oct 30, 2025
AI
The property involved in this transaction is a church located at 7740 Cherokee Road in Richmond, VA, sold for $3.6 million. The church has a total square footage of 31,852 and is situated in a market known for its diverse real estate offerings.
Summary of transaction details:
- Property Type: Church
- Transaction Amount: $3,600,000
- Square Footage: 31,852
- Price Per Square Foot: $113
- Buyer: Remnant Church
- Seller: Emmaus United Methodist Church Stratford Hill Tr
- Broker: Jeffrey (Jeff) Cooke - Cushman & Wakefield
Jeffrey (Jeff) Cooke from Cushman & Wakefield represented Remnant Church in this transaction. The buyer plans to maintain the property as a religious facility, continuing the site's original purpose under the new ownership.
Players
Richmond Church Market Snapshot
Boundary boundary · Church · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.41%
Cash-on-Cash
-1.26%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93