Allan Myers VA, Inc Acquires Industrial Property From S&K Holding In Newport News
1 Elmhurst Street
$3,200,000
$148/SF
Building Size
21,600 SF
Asset Type
Industrial
Closing
Apr 15, 2024
AI
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.
Players
Newport News Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.96%
Cash-on-Cash
-1.42%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93