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Workspace Property Group, LLC Acquires 39.8 Acres In Spotsylvania From Cosner Industrial Park LC
SOLD
$6,360,000
Virginia
See Similar DealsLand
Sold 05/30/2024
SOLD
Workspace Property Group, LLC Acquires 39.8 Acres In Spotsylvania From Cosner Industrial Park LC
Land
Sold 05/30/2024
Summary
Asset Type:Land
Transaction Type:Sale
The sale involved a land asset spanning 39.8 acres located at 0 Northeast Drive in Spotsylvania County, Virginia. Workspace Property Group, LLC purchased the land from Cosner Industrial Park LC for $6,360,000, with plans for upcoming industrial development.
Summary of transaction details:
- Property Type: Land
- Transaction Amount: $6,360,000
- Location: 0 Northeast Drive, Spotsylvania, VA
- Market: Spotsylvania, VA
- Buyer: Workspace Property Group, LLC
- Seller: Cosner Industrial Park LC
- Brokers: Virgil G. Nelson & Wilson H. Greenlaw - Cushman & Wakefield
Cushman & Wakefield | Thalhimer played a role in facilitating the transaction, ensuring a successful acquisition of the 39.8-acre land by Workspace Property Group, LLC from Cosner Industrial Park LC in Spotsylvania, VA.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$339,199.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$22,595.74
Cash-on-Cash Return-1.27%
Monthly Debt Service$30,149.64
Annual Debt Service$361,795.74
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