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Allan Myers VA, Inc Acquires Industrial Property From S&K Holding In Newport News
SOLD
$3,200,000
Virginia
See Similar DealsIndustrial21,600 SF
Sold 04/15/2024
SOLD
Allan Myers VA, Inc Acquires Industrial Property From S&K Holding In Newport News
1 Elmhurst Street
See Similar DealsIndustrial21,600 SF
Sold 04/15/2024
Summary
VIRGINIA
Asset Type:Industrial
Price Per Square Foot:$148
Total Square Footage:21,600 SF
Transaction Type:Sale
The sale of 1 Elmhurst Street in Newport News, Virginia, involved an industrial property consisting of a 21,600-square-foot building situated on 8.93 acres of land. The transaction was completed for $3.2 million, resulting in a price per square foot of $148.
Summary of transation details:
- Property Type: Industrial
- Transaction Amount: $3,200,000
- Address: 1 Elmhurst Street
- Market: Newport News, VA
- Buyer: Allan Myers VA, Inc
- Seller: S&K Holding
- Broker: Clay Culbreth - Cushman & Wakefield
- Square Footage: 21,600
- Price Per Square Foot: $148
Cushman & Wakefield | Thalhimer played a key role in facilitating the sale of the property, with Clay Culbreth representing both the seller, S&K Holding, and the buyer, Allan Myers VA, Inc.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$170,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$11,368.93
Cash-on-Cash Return-1.27%
Monthly Debt Service$15,169.63
Annual Debt Service$182,035.59
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