Updated Dec 4, 2024
Industrial Realty Group Acquires Industrial Facility At 3321 East Princess Anne Road For $34.9M
3321 East Princess Anne Road
$34,900,000
$334/SF
Building Size
104,334 SF
Asset Type
Industrial
Closing
Jul 11, 2024
About this deal
AI
The property involved in this transaction is an industrial facility located at 3321 East Princess Anne Road, Norfolk, VA. The sale price was $34,900,000, and the property encompasses a total area of 104,334 square feet, resulting in a price per square foot of $335.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $34,900,000
- Address: 3321 East Princess Anne Road
- Market: Norfolk, VA
- Square Footage: 104,334
- Price Per Square Foot: $335
- Buyer: Industrial Realty Group
- Seller: 3321 Princess Anne LLC
- Broker: Stephanie Sanker - S.L. Nusbaum Realty Co.
Stephanie Sanker represented the seller, 3321 Princess Anne LLC, in this transaction. The deal facilitated by S.L. Nusbaum Realty Co. involved the acquisition of a facility with a significant size of 298,126 square feet by the buyer, Industrial Realty Group.
On the Map
$34,900,000
$334/SF
Industrial
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Norfolk 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
0.45%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93