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HREP Acquisitions LLC Purchases 6 Acres Of Industrial Land In Chesapeake From Cummins Inc For $1.5M
SOLD
$1,500,000
Virginia
See Similar DealsIndustrial
Sold 06/30/2025
SOLD
HREP Acquisitions LLC Purchases 6 Acres Of Industrial Land In Chesapeake From Cummins Inc For $1.5M
3945 South Military Highway & 3953 South Military Highway
See Similar DealsIndustrial
Sold 06/30/2025
Summary
VIRGINIA
Asset Type:Industrial
Transaction Type:Sale
3945 South Military Highway and 3953 South Military Highway is a 6-acre industrial property located in Chesapeake, VA. The asset has recently been sold for $1,500,000.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $1,500,000
- Buyer: HREP Acquisitions, LLC
- Seller: Cummins, Inc
- Broker: Geoffrey Poston - Cushman & Wakefield
Cushman & Wakefield’s Geoffrey Poston and Taylor Anderson were involved in brokering the transaction on behalf of the seller, Cummins, Inc, facilitating the sale of the industrial land to HREP Acquisitions, LLC.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$79,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$5,329.19
Cash-on-Cash Return-1.27%
Monthly Debt Service$7,110.77
Annual Debt Service$85,329.18
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