DK Greengate, LLC Acquires Mixed-use Development In Henrico, VA For $31M
SOLD
$31,000,000
Virginia
See Similar DealsDevelopment Site96,745 SF
Sold 11/23/2021
SOLD
DK Greengate, LLC Acquires Mixed-use Development In Henrico, VA For $31M
12171 West Broad Street, Henrico, VA, USA
See Similar DealsDevelopment Site96,745 SF
Sold 11/23/2021
Summary
VIRGINIA
Asset Type:Development Site
Price Per Square Foot:$320
Total Square Footage:96,745 SF
Transaction Type:Sale
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.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,653,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$110,136.45
Cash-on-Cash Return-1.27%
Monthly Debt Service$146,955.82
Annual Debt Service$1,763,469.79
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