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Remnant Church Acquires Church In Richmond From Emmaus United Methodist For $3.6M
SOLD
$3,600,000
Virginia
See Similar DealsChurch31,852 SF
Sold 10/30/2025
SOLD
Remnant Church Acquires Church In Richmond From Emmaus United Methodist For $3.6M
7740 Cherokee Road
See Similar DealsChurch31,852 SF
Sold 10/30/2025
Summary
VIRGINIA
Asset Type:Church
Price Per Square Foot:$113
Total Square Footage:31,852 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$192,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$12,790.04
Cash-on-Cash Return-1.27%
Monthly Debt Service$17,065.84
Annual Debt Service$204,790.04
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