Helmsman Properties Sells Industrial Property In Norfolk, VA For $7.3M
SOLD
$7,300,000
Virginia
See Similar DealsIndustrial60,900 SF
Sold 10/14/2022
SOLD
Helmsman Properties Sells Industrial Property In Norfolk, VA For $7.3M
4840 Brookside Court, Norfolk, Virginia 23502, United States
See Similar DealsIndustrial60,900 SF
Sold 10/14/2022
Summary
VIRGINIA
Asset Type:Industrial
Price Per Square Foot:$119
Total Square Footage:60,900 SF
Transaction Type:Sale
The industrial property located at 4840 Brookside Court in Norfolk, VA has been sold in a closed transaction. The property spans over 60,900 square feet and was sold for a total price of $7,300,000, resulting in a price per square foot of $120. The seller of the property was Helmsman Properties.
Summary of transaction details:
- Property Type: Industrial
- Sale Price: $7,300,000
- Square Footage: 60,900
- Price Per Square Foot: $120
- Address: 4840 Brookside Court, Norfolk, VA
- Market: Norfolk, VA
The sale was facilitated by the brokerage team consisting of Mark Williford, Will Bradley, and Scott Adams from Colliers. They represented the seller, Helmsman Properties, in the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$389,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$25,935.37
Cash-on-Cash Return-1.27%
Monthly Debt Service$34,605.72
Annual Debt Service$415,268.69
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