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Palm Way Investments, LLC Acquires Industrial Building In Chesapeake For $3M

Property Image
SOLD
$3,000,000
Geoffrey "Geoff" Poston
Tony Weiss

Virginia

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Industrial14,200 SF
Sold 05/14/2024
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Property Image
SOLD

Palm Way Investments, LLC Acquires Industrial Building In Chesapeake For $3M

201 Bulldog Drive

See Similar Deals
Industrial14,200 SF
Sold 05/14/2024
Geoffrey "Geoff" Poston
Tony Weiss
the dealplayerscompscontact
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Summary

VIRGINIA
Asset Type:Industrial
Price Per Square Foot:$211
Total Square Footage:14,200 SF
Transaction Type:Sale

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

Geoffrey "Geoff" Poston
Cushman & Wakefield
Geoffrey Poston
11 deals$95M volume
BROKER
Tony Weiss
Cushman & Wakefield
Tony Weiss
2 deals$5.2M volume(757) 213-4148
BROKER

Details

SOLD
IMAGE: 05/14/2024 ADDRESS: 201 Bulldog Drive MARKET: Chesapeake, VA ASSET TYPE: Industrial BUYER: Palm Way Investments, LLC BROKERS: Geoffrey Poston & Tony Weiss - Cushman & Wakefield SALE PRICE: $3,000,000 SF: 14,200 ~ PPSF: $211 NOTE: Palm Way Investments bought a 14,200-square-foot industrial building at 201 Bulldog Drive in Chesapeake, VA for $3 million. Cushman & Wakefield | Thalhimer's Tony Weiss represented the seller, while Geoff Poston represented the buyer.

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

$160,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$10,658.36
Cash-on-Cash Return-1.27%
Monthly Debt Service$14,221.53
Annual Debt Service$170,658.37