Virginia Beach Lifesaving Service Acquires Industrial Property From Harmony Pickett For $1.5M
849 Virginia Beach Boulevard & 853 Virginia Beach Boulevard
$1,500,000
$153/SF
Building Size
9,796 SF
Asset Type
Industrial
Closing
Jun 13, 2024
AI
The industrial property located at 849-853 Virginia Beach Boulevard in Virginia Beach, VA was recently sold for $1,500,000. The property spans 4,898 square feet, resulting in a price per square foot of $306.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $1,500,000
- Address: 849-853 Virginia Beach Boulevard, Virginia Beach, VA
- Market: Virginia Beach, VA
- Buyer: Virginia Beach Lifesaving Service
- Seller: Harmony Pickett, LLC
- Broker: William Throne - Cushman & Wakefield
Cushman & Wakefield | Thalhimer, represented by William C. Throne, CSCMP, CCIM, SIOR, oversaw the negotiations on behalf of the seller, Harmony Pickett, LLC, facilitating the sale of the industrial property to the buyer, Virginia Beach Lifesaving Service.
Virginia Beach 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
10.58%
Cash-on-Cash
-3.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93