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MDH Partners Acquires Cook Blvd Industrial Property In Chesapeake, VA For $13.8M

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SOLD
$13,800,000

Virginia

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Industrial182 SF
Sold 04/11/2022
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Property Image
SOLD

MDH Partners Acquires Cook Blvd Industrial Property In Chesapeake, VA For $13.8M

3804 Cook Boulevard, Chesapeake, Virginia 23323, United States

See Similar Deals
Industrial182 SF
Sold 04/11/2022
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Summary

VIRGINIA
Asset Type:Industrial
Price Per Square Foot:$75,824
Total Square Footage:182 SF
Transaction Type:Sale

MDH Partners has completed the sale of an industrial property located at 3804 & 3808 Cook Blvd in Chesapeake, VA. This property spans approximately ACRES acres and consists of a total of 182,000 square feet. The transaction took place on November 4, 2022, with the property being sold for a price of $13,800,000 at a price per square foot of $76.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $13,800,000
  • Square Footage: 182,000
  • Price per Square Foot: $76
  • Address: 3804 & 3808 Cook Blvd, Chesapeake, VA
  • Market: Chesapeake, VA
  • Buyer: MDH Partners - Joe DeHaven & Makenna Barbara
  • Brokers: Chamie Burroughs & Ricky Anderson - Colliers

The transaction was facilitated by Chamie Burroughs and Ricky Anderson from Colliers, representing the buyer, MDH Partners. Joe DeHaven and Makenna Barbara from MDH Partners were the buyer's representatives in the deal. With this sale, MDH Partners has successfully acquired the industrial property, further expanding their portfolio.

Players

Ricky Anderson
2 deals$21.1M volume
BROKER

Chamie Burroughs
Colliers
2 deals$27.3M volume
BROKER

MDH Partners
BROKERAGE


Details

SOLD
IMAGE: Chamie Burroughs, Joe DeHaven, Ricky Anderson & Makenna Barbara DATE: 11/04/2022 ADDRESS: 3804 & 3808 Cook Blvd MARKET: Chesapeake, VA ASSET TYPE: Industrial ~ ACRES:: BUYER: MDH Partners - Joe DeHaven & Makenna Barbara BROKERS: Chamie Burroughs & Ricky Anderson - Colliers SALE PRICE: $13,800,000 SF: 182,000 ~ PPSF: $76

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$736,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$49,028.48
Cash-on-Cash Return-1.27%
Monthly Debt Service$65,419.04
Annual Debt Service$785,028.49