Updated Oct 29, 2024
Terrace Properties Acquires Commercial Property In Midlothian, VA For $10.3M
13901 Saint Francis Boulevard, Midlothian, Virginia 23114, United States
$10,300,000
$468,181/SF
Building Size
22 SF
Asset Type
Commercial
Closing
Jan 13, 2023
About this deal
AI
The commercial property located at 13901 & 13911 St. Francis Blvd in Midlothian, VA has been sold for a price of $10,300,000. The property spans 22,895 square feet, resulting in a price per square foot of $450. The transaction took place on January 13, 2023. The buyer, Terrace Properties, acquired the property from the sellers, St. Francis MOB III & FP Holdings.
Summary of transaction details
- Property Type: Commercial
- Transaction Amount: $10,300,000
- Address: 13901 & 13911 St. Francis Blvd, Midlothian, VA
- Market: Midlothian, VA
- Square Footage: 22,895
- Price per Square Foot: $450
The buyer's representatives for this transaction were Kevin Specter and Mark Specter from Specter Properties. On the other hand, the sellers were represented by Matt Hamilton and Chris Wallace from CBRE.
Players
Midlothian Commercial Market Snapshot
Boundary boundary · Commercial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.54%
Cash-on-Cash
-0.44%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93