THM Properties, LLC Acquires Industrial Asset In Norfolk, Virginia From A. Square LLC For $1.45M
3701 E Virginia Beach Blvd, Norfolk, Virginia, USA
$1,450,000
$55/SF
Building Size
26,268 SF
Asset Type
Industrial
Closing
Nov 1, 2021
AI
A 26,268 square foot industrial property located at 3701 E. Virginia Beach Blvd in Norfolk, Virginia has been sold for $1,450,000. The property was purchased by THM Properties, LLC from A. Square LLC. The sale was facilitated by brokers Geoff Poston and Ellis Colthorpe from Cushman & Wakefield | Thalhimer. The property is situated in the Norfolk market.
Summary of transation details
- Property Type: Industrial
- Transaction Amount: $1,450,000
- Address: 3701 E. Virginia Beach Blvd, Norfolk, Virginia
- Market: Norfolk
- Buyer: THM Properties, LLC
- Seller: A. Square LLC
- Brokers: Geoff Poston & Ellis Colthorpe - Cushman & Wakefield | Thalhimer
Geoff Poston and Ellis Colthorpe, representing Cushman & Wakefield | Thalhimer, played a key role in facilitating the sale of this industrial property in Norfolk, Virginia. The property has a total area of 26,268 square feet and was sold for $1,450,000.
Players
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
10.94%
Cash-on-Cash
-3.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93