Updated Jul 7, 2025
Nitneil Development LLC Purchases Industrial Property From Oh Hat LLC For $2.3M In Richmond VA
501 Oliver Hill Way
$2,300,000
$59/SF
Building Size
38,796 SF
Asset Type
Industrial
Closing
Jul 2, 2025
About this deal
AI
The industrial property located at 501 Oliver Hill Way in Richmond, VA was sold for $2,300,000. The total square footage of the property is 38,796, making the price per square foot approximately $59.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $2,300,000
- Buyer: Nitneil Development, LLC
- Seller: Oh Hat, LLC
- Broker: Isaac DeRegibus - Cushman & Wakefield
- Market: Richmond, VA
Nitneil Development, LLC acquired the property as facilitated by Isaac DeRegibus from Cushman & Wakefield, who represented Oh Hat, LLC in this transaction.
Players
Richmond 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
6.90%
Cash-on-Cash
-1.97%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93