Benderson Development Inc. Acquires Commercial Property In Alexandria VA
SOLD
$27,000,000
Virginia
See Similar DealsCommercial42,243 SF
Sold
SOLD
Benderson Development Inc. Acquires Commercial Property In Alexandria VA
1700 Duke Street, Alexandria, Virginia 22314, United States
See Similar DealsCommercial42,243 SF
Sold
Summary
VIRGINIA
Asset Type:Commercial
Price Per Square Foot:$639
Total Square Footage:42243 SF
Transaction Type:Sale
A commercial property located at 1700 Duke St. in Alexandria, VA was sold in a transaction on 01/05/2022. The property consists of 116 units with a price per unit (PPU) of $232,758. The total square footage (SF) of the property is 42,243 with a price per square foot (PPSF) of $639.
Summary of transaction details
- Property Type: Commercial
- Transaction Amount: $27,000,000
- Market: Alexandria, VA
The buyer involved in the transaction was Benderson Development Inc. The deal was brokered by Andrew Fallon and Rick Fernandez from SRS National Net Lease Group, and Joe Friedman from Edge Capital Markets.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,440,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$95,925.30
Cash-on-Cash Return-1.27%
Monthly Debt Service$127,993.77
Annual Debt Service$1,535,925.30
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