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Grant Investment Management Sells 9.2 Acre Industrial Property In Newport News For $5.85M

Property Image
SOLD
$5,850,000

Virginia

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Industrial48,800 SF
Sold 06/24/2025
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Property Image
SOLD

Grant Investment Management Sells 9.2 Acre Industrial Property In Newport News For $5.85M

220 Pickett's Line

See Similar Deals
Industrial48,800 SF
Sold 06/24/2025
the dealplayerscompscontact
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Summary

VIRGINIA
Asset Type:Industrial
Price Per Square Foot:$119
Total Square Footage:48,800 SF
Transaction Type:Sale

An industrial property located at 220 Picketts Line in Newport News, VA has been sold for $5,850,000. This asset spans 9.2 acres with a total square footage of 48,800. The price per square foot for this transaction is calculated at $120.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $5,850,000
  • Address: 220 Picketts Line
  • Market: Newport News, VA
  • Seller: Grant Investment Management, LLC
  • Broker: Clay Culbreth - Cushman & Wakefield

This transaction saw a local investor acquire the property, facilitated by Clay Culbreth representing the seller, Grant Investment Management, LLC. The deal highlights the active participation of Cushman & Wakefield | Thalhimer in managing the sale process for the seller.

Players

Clay Culbreth
Cushman & Wakefield
Clay Culbreth
9 deals$43M volume
BROKER
Cushman & Wakefield
Cushman & Wakefield
BROKERAGE

Details

SOLD
IMAGE: 06/24/2025 ADDRESS: 220 Picketts Line MARKET: Newport News, VA ASSET TYPE: Industrial ~ ACRES: 9.2 SELLER: Grant Investment Management, LLC BROKER: Clay Culbreth - Cushman & Wakefield SALE PRICE: $5,850,000 SF: 48,800 ~ PPSF: $120 NOTE: A local investor acquired the 48,800-square-foot industrial property at 220 Pickett Line in Newport News for $5.85 million. Cushman & Wakefield | Thalhimer facilitated the deal on behalf of the seller, Grant Investment Management.

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

$312,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$20,783.81
Cash-on-Cash Return-1.27%
Monthly Debt Service$27,731.98
Annual Debt Service$332,783.81