Coastal Mechanical Systems Acquires Flex Property In Norfolk, Virginia For $2.3M
SOLD
$2,325,000
Virginia
See Similar DealsIndustrial28,513 SF
Sold 11/16/2021
SOLD
Coastal Mechanical Systems Acquires Flex Property In Norfolk, Virginia For $2.3M
5426 Robin Hood Road, Norfolk, Virginia, USA
See Similar DealsIndustrial28,513 SF
Sold 11/16/2021
Summary
VIRGINIA
Asset Type:Industrial
Price Per Square Foot:$81
Total Square Footage:28,513 SF
Transaction Type:Sale
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.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$124,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$8,260.23
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,021.69
Annual Debt Service$132,260.23
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