Palm Way Investments, LLC Acquires Industrial Building In Chesapeake For $3M
201 Bulldog Drive
$3,000,000
$211/SF
Building Size
14,200 SF
Asset Type
Industrial
Closing
May 14, 2024
AI
An industrial building spanning 14,200 square feet located at 201 Bulldog Drive in Chesapeake, VA, was recently sold for $3 million. The transaction was facilitated by Cushman & Wakefield, with Tony Weiss representing the seller and Geoff Poston representing the buyer.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $3,000,000
- Address: 201 Bulldog Drive, Chesapeake, VA
- Market: Chesapeake, VA
- Buyer: Palm Way Investments, LLC
- Seller's Broker: Tony Weiss - Cushman & Wakefield
- Buyer's Broker: Geoff Poston - Cushman & Wakefield
- Square Footage: 14,200
- Price Per Square Foot: $211
Palm Way Investments, LLC, acquired the industrial property, while Cushman & Wakefield's Tony Weiss and Geof Poston played crucial roles in representing the seller and buyer, respectively, during this transaction.
Players
Chesapeake 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
5.29%
Cash-on-Cash
-1.51%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93