Updated Mar 10, 2026
RST Development Acquires Development Site From CSB Family Investors LLC For $12.5M In Manassas VA
8503 Euclid Avenue & 8505 Euclid Ave Mana
$12,500,000
$88/SF
Building Size
70,590 SF
Asset Type
Development Site
Closing
Mar 6, 2026
About this deal
AI
The property involved in the transaction is a development site located at 8503 Euclid Avenue & 8505 Euclid Ave in Manassas, VA. It encompasses a total of 70,590 square feet on a 7-acre lot and was sold for $12,500,000, which equates to a price per square foot of approximately $177.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $12,500,000
- Address: 8503 Euclid Avenue & 8505 Euclid Ave
- Market: Manassas, VA
- Buyer: RST Development
- Seller: CSB Family Investors LLC
- Square Footage: 70,590
- Price per Square Foot: $177
Virginia Beach-based RST Development acquired the Conner Commerce Center with intentions to redevelop it into 300 multifamily units, indicating a significant transition from its previous use as a warehouse.
Players
Manassas Development Site Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.27%
Cash-on-Cash
-0.36%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93