Updated Oct 28, 2024
Eight Two Seven Acres Sells Industrial Property In Spotsylvania County, Virginia For $2.25M
56 Joseph Mills Drive, Fredericksburg, Spotsylvania County, Virginia, USA
$2,250,000
$93/SF
Building Size
24,000 SF
Asset Type
Industrial
Closing
Nov 3, 2021
About this deal
AI
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.
Players
Fredericksburg 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
7.05%
Cash-on-Cash
-2.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93