Fundrise Acquires Industrial Asset In Sterling, VA For $20.8M
SOLD
$20,800,000
+ 2
Virginia
See Similar DealsIndustrial76,500 SF
Sold
SOLD
Fundrise Acquires Industrial Asset In Sterling, VA For $20.8M
22480 Randolph Drive, Sterling, VA, USA
See Similar DealsIndustrial76,500 SF
Sold
+ 2
Summary
VIRGINIA
Asset Type:Industrial
Price Per Square Foot:$271
Total Square Footage:76500 SF
Transaction Type:Sale
An industrial property located at 22480 Randolph Drive in Sterling, Virginia has been sold for a price of $20,800,000. The property spans a total area of 76,500 square feet, resulting in a price per square foot of $272. The sale was facilitated by Joe Friedman, Cristine Kleine, Wilson Purcell, and Joshua Norwitz of Edge, who represented the buyer, Fundrise, and the seller, J1B Properties.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $20,800,000
- Address: 22480 Randolph Drive, Sterling, VA
- Market: Sterling, VA
This transaction involved the buyer, Fundrise, represented by Ben Miller, and the seller, J1B Properties. Joe Friedman, Cristine Kleine, Wilson Purcell, and Joshua Norwitz of Edge served as the brokers in the deal. The industrial property located at 22480 Randolph Drive in Sterling, Virginia was sold for a price of $20,800,000, with a total area of 76,500 square feet.
Players
BROKERAGE
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,109,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$73,898.01
Cash-on-Cash Return-1.27%
Monthly Debt Service$98,602.61
Annual Debt Service$1,183,231.34
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