Updated Oct 28, 2024
DK Greengate, LLC Acquires Mixed-use Development In Henrico, VA For $31M
12171 West Broad Street, Henrico, VA, USA
$31,000,000
$320/SF
Building Size
96,745 SF
Asset Type
Development Site
Closing
Nov 23, 2021
About this deal
AI
A mixed-use development located at 12171 West Broad Street in Henrico, VA has been sold for $31,000,000. The property spans 96,745 square feet and was purchased by DK Greengate, LLC from GreenGate Commercial. The sale price translates to a per-square-foot value of $320.
Summary of transaction details
- Property Type: Mixed-use Development
- Transaction Amount: $31,000,000
- Address: 12171 West Broad Street, Henrico, VA
- Market: Henrico, VA
The transaction was facilitated by the brokerage team of Peter Vick and Harrison Hall from Colliers. They represented both the buyer, DK Greengate, LLC, and the seller, GreenGate Commercial, in the deal.
On the Map
$31,000,000
$320/SF
Development Site
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Players
Henrico Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.51%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93