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Riverbend Development Sells Mixed-Use Property In Charlottesville, VA For $3.85M

Property Image
SOLD
$3,850,000

Virginia

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Mixed-use2,318 SF
Sold 12/01/2021
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Property Image
SOLD

Riverbend Development Sells Mixed-Use Property In Charlottesville, VA For $3.85M

1617 Emmet Street North, Charlottesville, Virginia 22901, United States

See Similar Deals
Mixed-use2,318 SF
Sold 12/01/2021
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Summary

VIRGINIA
Asset Type:Mixed-use
Price Per Square Foot:$1,660
Total Square Footage:2,318 SF
Transaction Type:Sale

The mixed-use property located at 1617 Emmet St North in Charlottesville, Virginia has recently been sold for a price of $3,850,000. The property spans an area of 2,318 square feet, resulting in a price per square foot of $1,661. The seller of the property was Riverbend Development. The transaction took place on 12/01/2021 and was facilitated by Catharine Spangler of Thalhimer’s Capital Markets Group, a part of Cushman & Wakefield.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $3,850,000
  • Date: 12/01/2021
  • Address: 1617 Emmet St North, Charlottesville, Virginia
  • Square Footage: 2,318
  • Price per Square Foot: $1,661
  • Seller: Riverbend Development
  • Broker: Catharine Spangler - Thalhimer’s Capital Markets Group - Cushman & Wakefield

Catharine Spangler, representing Thalhimer’s Capital Markets Group, played a pivotal role in facilitating the transaction. The involvement of Catharine and the Cushman & Wakefield agency contributed to the successful sale of the property.

Players

Catharine Spangler
20 deals$220M volume
BROKER

SELLER

Details

SOLD
IMAGE: Catharine Spangler DATE: 12/01/2021 ADDRESS: 1617 Emmet St North MARKET: Charlottesville, Virginia ASSET TYPE: Mixed-use SELLER: Riverbend Development BROKER: Catharine Spangler - Thalhimer’s Capital Markets Group - Cushman & Wakefield SALE PRICE: $3,850,000 SF: 2,318 ~ PPSF: $1,661

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$205,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$13,678.25
Cash-on-Cash Return-1.27%
Monthly Debt Service$18,250.96
Annual Debt Service$219,011.57