Updated Oct 28, 2024
Coastal Mechanical Systems Acquires Flex Property In Norfolk, Virginia For $2.3M
5426 Robin Hood Road, Norfolk, Virginia, USA
$2,325,000
$81/SF
Building Size
28,513 SF
Asset Type
Industrial
Closing
Nov 16, 2021
About this deal
AI
The flex asset located at 5426 Robin Hood Road in Norfolk, Virginia has been sold in a closed transaction. The property spans a total area of 28,513 square feet.
Summary of transaction details
- Property Type: Flex
- Sale Price: $2,325,000
- Price per Square Foot: $82
- Transaction Date: 11/16/2021
- Buyer: Coastal Mechanical Systems
- Seller: Day & Zimmerman
- Brokers: Rob Wright & Dawn F. Griggs - Cushman & Wakefield | Thalhimer
- Market: Norfolk, Virginia
The buyer in this transaction is Coastal Mechanical Systems, while the seller is Day & Zimmerman. Representing the deal were brokers Rob Wright and Dawn F. Griggs from Cushman & Wakefield | Thalhimer.
On the Map
$2,325,000
$81/SF
Industrial
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Players
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
6.82%
Cash-on-Cash
-1.95%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93