Updated Jun 2, 2025
Ogburn LLC Purchases Industrial Property At 10987 Richardson Road From Estate Of Gloria M. Sydnor For $3.325M
10987 Richardson Road
$3,325,000
$118/SF
Building Size
28,000 SF
Asset Type
Industrial
Closing
May 30, 2025
About this deal
AI
The property asset involved in this transaction is an industrial asset located at 10987 Richardson Road in Ashland, VA, featuring a total square footage of 28,000. The transaction was completed for a price of $3,325,000, resulting in a price per square foot of $119.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $3,325,000
- Buyer: Ogburn LLC
- Seller: Estate of Gloria M. Sydnor
- Sale Date: 05/30/2025
- Brokers: Kevin Cox - Porter Realty
Kevin Cox of Porter Realty represented the seller, Estate of Gloria M. Sydnor, in this transaction, facilitating the sale to the buyer, Ogburn LLC.
Players
Ashland Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.77%
Cash-on-Cash
-1.36%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93