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7401 Gateway Court, Manassa...

The Davis Companies And Davin Holdings Acquire Commercial Property In Manassas, VA For $45.8M
SOLDCommercial

The Davis Companies And Davin Holdings Acquire Commercial Property In Manassas, VA For $45.8M

7401 Gateway Court, Manassas, Virginia 20109, United States

$45,800,000

$216/SF

Building Size

212,000 SF

Asset Type

Commercial

Closing

Jan 3, 2022

AI

The commercial property located at 7345, 7663, and 7795 Coppermine Drive, as well as 7201, 7301, and 7401 Gateway Court in Manassas, VA, has been sold in a recent transaction. The property spans a total area of 212,000 square feet and was sold for a price of $45,800,000, resulting in a price per square foot of $216. The transaction was facilitated by Marc Tasker, Ryan Moody, and Christopher Kubler of NAI KLNB, who represented the buyer, The Davis Companies and Davin Holdings, and the seller, Finmarc Management's Sean Sullivan.

Summary of transaction details

  • Property Type: Commercial
  • Transaction Amount: $45,800,000
  • Address: 7345, 7663, & 7795 Coppermine Drive, 7201, 7301, & 7401 Gateway Court, Manassas, VA
  • Market: Manassas, VA
  • Square Footage: 212,000
  • Price per Square Foot: $216
  • Buyer: The Davis Companies, Davin Holdings
  • Seller: Finmarc Management - Sean Sullivan
  • Broker: Marc Tasker, Ryan Moody & Christopher Kubler - NAI KLNB

The Davis Companies and Davin Holdings completed the purchase of the commercial property in Manassas, VA, with the assistance of their broker representatives, Marc Tasker, Ryan Moody, and Christopher Kubler from NAI KLNB. Meanwhile, Sean Sullivan, representing Finmarc Management, acted as the seller in the transaction. The property's prime location and attractive characteristics contributed to its successful sale.

Players

Ryan Moody

Newmark

Broker

$416.9M

vol

7 deals

Broker
The Davis Companies
The Davis CompaniesBuyer

Sean Sullivan

Finmarc Management

Seller

$50.8M

vol

2 deals

Seller

Manassas Commercial Market Snapshot

Boundary boundary · Commercial · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.35%

Cash-on-Cash

-0.10%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93