B&D Acquisitions LLC Acquires Industrial Property In Norfolk, Virginia For $2.6M
3750 Progress Road, Norfolk, Virginia, USA
$2,638,250
$71/SF
Building Size
36,902 SF
Asset Type
Industrial
Closing
Nov 3, 2021
AI
The industrial property located at 3750 Progress Road in Norfolk, Virginia has been sold in a transaction. The property spans over an area of 2.105 acres and is identified as an industrial asset.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $2,638,250
- Address: 3750 Progress Road, Norfolk, Virginia
- Market: Norfolk, Virginia
- Acres: 2.105
The buyer of the property is B&D Acquisitions LLC, while the seller is Melchor Enterprises. The deal was facilitated by Geoff Poston from Cushman & Wakefield | Thalhimer. The sale price for the property was $2,638,250, with a total square footage of 36,902. This equates to a price per square foot of $71.
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
6.01%
Cash-on-Cash
-1.72%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93