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Erkin Tentishev Acquires Office Building In Fredericksburg VA For $3.7M From American Traffic Safety Services
SOLD
$3,700,000
Virginia
See Similar DealsOffice22,894 SF
Sold 07/23/2024
SOLD
Erkin Tentishev Acquires Office Building In Fredericksburg VA For $3.7M From American Traffic Safety Services
15 Riverside Parkway
See Similar DealsOffice22,894 SF
Sold 07/23/2024
Summary
VIRGINIA
Asset Type:Office
Price Per Square Foot:$161
Total Square Footage:22,894 SF
Transaction Type:Sale
Erkin Tentishev purchased an office building located at 15 Riverside Parkway in Fredericksburg, VA, for a price of $3,700,000. The property encompasses 22,894 square feet, translating to a price per square foot of $162. The transaction took place in Stafford County, Virginia.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $3,700,000
- Address: 15 Riverside Parkway
- Market: Fredericksburg, VA
- Square Footage: 22,894
- Price Per Square Foot: $162
- Buyer: Erkin Tentishev
- Seller: American Traffic Safety Services Association
- Broker: Jamie A. Scully & CCIM - Cushman & Wakefield
Erkin Tentishev intends to establish the Asian Medical Institute at the purchased location. Jamie Scully of Cushman & Wakefield represented the American Traffic Safety Services Association as the seller in this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$197,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$13,145.33
Cash-on-Cash Return-1.27%
Monthly Debt Service$17,539.89
Annual Debt Service$210,478.65
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