Sung Eun Management LLC Acquires Industrial Building In Newport News For $1.4M
11849 Tugboat Lane
$1,400,000
$141/SF
Building Size
9,906 SF
Asset Type
Industrial
Closing
May 28, 2024
AI
An industrial/flex building spanning 9,906 square feet located at 11849 Tugboat Lane in Newport News, VA, was sold for $1.4 million. The transaction involved Sung Eun Management LLC as the buyer and Tugboat Properties LLLP as the seller. The property was facilitated by brokers Ellis Colthorpe & Teresa Nettles from Cushman & Wakefield.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $1,400,000
- Address: 11849 Tugboat Lane
- Market: Newport News, VA
- Square Footage: 9,906
- Price per Square Foot: $141
- Buyer: Sung Eun Management LLC
- Seller: Tugboat Properties LLLP
- Brokers: Ellis Colthorpe & Teresa Nettles - Cushman & Wakefield
Sung Eun Management LLC acquired the 9,906 square foot industrial/flex building at 11849 Tugboat Lane in Newport News, Virginia for $1.4 million from Tugboat Properties LLLP in a recent transaction.
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
11.33%
Cash-on-Cash
-3.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93