Merritt Acquires 20 Acre Industrial Property In Ashland, VA For $41.3M
SOLD
$41,300,000
Virginia
See Similar DealsIndustrial
Sold 08/23/2022
SOLD
Merritt Acquires 20 Acre Industrial Property In Ashland, VA For $41.3M
10408 Lakeridge Parkway, Ashland, Virginia 23005, United States
See Similar DealsIndustrial
Sold 08/23/2022
Summary
VIRGINIA
Asset Type:Industrial
Transaction Type:Sale
The industrial property located at 10408 Lakeridge Pkwy in Ashland, VA has been sold in a closed transaction. Situated on 20 acres of land, this industrial asset offers ample space for various operations.
Summary of Transaction Details
- Property Type: Industrial
- Transaction Amount: $41,300,000
- Address: 10408 Lakeridge Pkwy, Ashland, VA
- Market: Ashland, VA
- Lot Size: 20 acres
Merritt, represented by Scott Dorsey, has acquired the property. Thalhimer Realty Partners, Inc. acted as the seller in this transaction. The brokerage services were provided by Eric Robison of Cushman & Wakefield.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,202,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$146,730.17
Cash-on-Cash Return-1.27%
Monthly Debt Service$195,783.07
Annual Debt Service$2,349,396.84
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