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Prudent Growth Partners Acquires Mixed-Use Property In Richmond, VA For $7.25M
SOLD
Virginia
See Similar DealsMixed-use49,092 SF
Sold 04/27/2023
SOLD
Prudent Growth Partners Acquires Mixed-Use Property In Richmond, VA For $7.25M
8101 Staples Mill Road Richmond, Virginia 23228, USA
See Similar DealsMixed-use49,092 SF
Sold 04/27/2023
Summary
VIRGINIA
Asset Type:Mixed-use
Price Per Square Foot:$147
Total Square Footage:49,092 SF
Transaction Type:Sale
The mixed-use property located at 8101-8157 Staples Mill Road in Richmond, VA has been sold for $7,250,000. The property spans an area of 49,092 square feet, resulting in a price per square foot of $148. The transaction took place on April 27, 2023.
Summary of transaction details
- Property Type: Mixed-Use
- Transaction Amount: $7,250,000
- Address: 8101-8157 Staples Mill Road, Richmond, VA
- Market: Richmond, VA
- Buyer: Prudent Growth Partners, LLC
- Seller: Fernau LeBlanc Investment Partners
- Brokers: Bo McKown, Catharine Spangler & Eric Robison - Cushman & Wakefield
- Square Footage: 49,092
- Price per Square Foot: $148
Cushman & Wakefield represented the buyer, Prudent Growth Partners, LLC, in this transaction. Bo McKown, Catharine Spangler, and Eric Robison from Cushman & Wakefield served as the brokers for the deal.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$386,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$25,757.72
Cash-on-Cash Return-1.27%
Monthly Debt Service$34,368.70
Annual Debt Service$412,424.39
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