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
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.
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