Updated Dec 4, 2024
Sincere Estates, LLC Acquires Industrial Building In Newport News, VA For $1.07M
14760 Warwick Boulevard
$1,066,500
$62/SF
Building Size
17,137 SF
Asset Type
Industrial
Closing
Jan 1, 2024
About this deal
AI
Sincere Estates, LLC has acquired a 17,137 square foot industrial/warehouse building located at 14760 Warwick Boulevard in Newport News, Virginia. The property was purchased from 14760 Rt. 60 Properties, LLC for a total of $1,066,500.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $1,066,500
- Address: 14760 Warwick Boulevard
- Market: Newport News, VA
- Buyer: Sincere Estates, LLC
- Seller: 14760 Rt. 60 Properties, LLC
- Brokers: Clay Culbreth & Kenneth Penrose Jr - Cushman & Wakefield
- Square Footage: 17,137
- Price Per Square Foot: $62
The transaction was facilitated by Clay Culbreth and Kenneth Penrose Jr of Cushman & Wakefield. They represented both the buyer, Sincere Estates, LLC, and the seller, 14760 Rt. 60 Properties, LLC.
Players
Newport News 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
14.87%
Cash-on-Cash
-4.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93