Jose Montero Raul Pino And Pablo Vignolo Of The Hype Real Estate Group Sell Industrial Asset For $18.5M
3050 Elmhurst Lane
$18,500,000
$228/SF
Building Size
81,105 SF
Asset Type
Industrial
Closing
Sep 20, 2024
AI
The property involved in this transaction is an industrial asset located at 3050 & 3100 Elmhurst Lane in Portsmouth, VA. The sale price for the property was $18,500,000, with a total square footage of 200,000, equating to a price per square foot of $93.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $18,500,000
- Square Footage: 200,000
- Price Per Square Foot: $93
- Address: 3050 & 3100 Elmhurst Lane
- Market: Portsmouth, VA
- Brokers: Jose Montero, Raul Pino & Pablo Vignolo - The Hype Real Estate Group
This transaction was facilitated by The Hype Real Estate Group, with a notable contribution from Jose Montero, who sourced this particular deal. The team is actively expanding into new regions, handling opportunities across various property types such as industrial, retail, land, and multifamily. Brokers involved can be reached at the following numbers: Jose Montero: 305-323-2762, Pablo Vignolo: 305-303-3837, Raul Pino: 786-503-5583.
Players
Portsmouth 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
0.86%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93