Eight Two Seven Acres Sells Industrial Property In Spotsylvania County, Virginia For $2.25M
SOLD
$2,250,000
Virginia
See Similar DealsIndustrial24,000 SF
Sold 11/03/2021
SOLD
Eight Two Seven Acres Sells Industrial Property In Spotsylvania County, Virginia For $2.25M
56 Joseph Mills Drive, Fredericksburg, Spotsylvania County, Virginia, USA
See Similar DealsIndustrial24,000 SF
Sold 11/03/2021
Summary
VIRGINIA
Asset Type:Industrial
Price Per Square Foot:$93
Total Square Footage:24,000 SF
Transaction Type:Sale
Located at 56 Joseph Mills Drive in Spotsylvania County, Virginia, this industrial property spans 2.84 acres. The sale of this property was facilitated by brokers Virgil G. Nelson and Wilson H. Greenlaw from Cushman & Wakefield | Thalhimer, representing the seller, Eight Two Seven Acres, LLC. The transaction took place on November 3, 2021. The property offers a total of 24,000 square feet of space, resulting in a price per square foot of $94. The sale price for this property amounted to $2,250,000.
Summary of transation details
- Property Type: Industrial
- Transaction Amount: $2,250,000
- Address: 56 Joseph Mills Drive, Spotsylvania County, Virginia
- Market: Spotsylvania County, Virginia
- Broker(s): Virgil G. Nelson & Wilson H. Greenlaw - Cushman & Wakefield | Thalhimer
- Acres: 2.84
The deal's key individuals include brokers Virgil G. Nelson and Wilson H. Greenlaw from Cushman & Wakefield | Thalhimer, who represented the seller, Eight Two Seven Acres, LLC. Together, they successfully facilitated the sale of this industrial property, providing valuable expertise and guidance throughout the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$120,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$7,993.77
Cash-on-Cash Return-1.27%
Monthly Debt Service$10,666.15
Annual Debt Service$127,993.77
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