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Hepaco LLC Acquires Industrial Property From Piedmont Land Company In Norfolk For $2.54M

Property Image
SOLD
$2,541,954
Geoffrey "Geoff" Poston
Erik Conradi
Clark Simpson
+ 2

Virginia

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Industrial
Sold 07/15/2025
the dealplayerscompscontact
Property Image
SOLD

Hepaco LLC Acquires Industrial Property From Piedmont Land Company In Norfolk For $2.54M

1301 Marsh Street

See Similar Deals
Industrial
Sold 07/15/2025
Geoffrey "Geoff" Poston
Erik Conradi
Clark Simpson
+ 2
the dealplayerscompscontact
Contact now

Summary

VIRGINIA
Asset Type:Industrial
Transaction Type:Sale

The asset involved in this transaction is an industrial property located at 1301 Marsh Street in Norfolk, VA. The buyer, Hepaco LLC, acquired the site, which spans 1.71 acres, for a total price of $2,541,954. The transaction reflects a cap rate of 6.5%. The property was sold by Piedmont Land Company, who had previously owned it.

Summary of transaction details:

Cushman & Wakefield facilitated the deal representing the seller, Piedmont Land Company. Hepaco LLC operates as Clean Harbors and purchased the property as their leased site. This transaction highlights the activity within the Norfolk industrial market.

Players

Geoffrey "Geoff" Poston
Cushman & Wakefield
Geoffrey Poston
11 deals$95M volume
BROKER
Clark Simpson
Cushman & Wakefield
Clark Simpson
16 deals$87.8M volume
BROKER
Erik Conradi
Cushman & Wakefield
Erik Conradi
13 deals$73.3M volume
BROKER
William (Bill) Throne
Cushman & Wakefield
William Throne
4 deals$14.5M volume(757) 499-2692
BROKER
Taylor Anderson
Cushman & Wakefield
Taylor Anderson
2 deals$6M volume(757) 448-5882
BROKER
Cushman & Wakefield
Cushman & Wakefield
BROKERAGE

Details

SOLD
IMAGE: 07/15/2025 ADDRESS: 1301 Marsh Street MARKET: Norfolk, VA ASSET TYPE: Industrial BUYER: Hepaco LLC SELLER: Piedmont Land Company BROKERS: Clark Simpson, Erik Conradi, William Throne, Taylor Anderson & Geoffrey Poston - Cushman & Wakefield SALE PRICE: $2,541,954 NOTE: Hepaco LLC, operating as Clean Harbors, bought its leased 1.71-acre site at 1301 Marsh Street in Norfolk, VA, for $2.54M at a 6.5% cap rate. Cushman & Wakefield | Thalhimer brokered the deal on behalf of seller Piedmont Land Company.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$135,570.90

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$9,031.01
Cash-on-Cash Return-1.27%
Monthly Debt Service$12,050.16
Annual Debt Service$144,601.91