Northmarq Brokers $8.7M Sale Of Office Building In Virginia Beach
1741 Corporate Landing Parkway, Virginia Beach, Virginia 23454, United States
$8,700,000
$193,333/SF
Building Size
45 SF
Asset Type
Office
Closing
Nov 22, 2022
About this deal
AI
The office property located at 1741 Corporate Landing Parkway in Virginia Beach, VA has been sold for a price of $8,700,000. The transaction took place on November 22, 2022. The property spans across a total area of 45,061 square feet, resulting in a price per square foot of $193.
Summary of transation details
- Property Type: Office
- Transaction Amount: $8,700,000
- Address: 1741 Corporate Landing Parkway, Virginia Beach, VA
- Date: November 22, 2022
- Broker: Asher Wenig - Northmarq
- Size: 45,061 square feet
- Price per Square Foot: $193
Asher Wenig from Northmarq represented the parties involved in the transaction as the broker.
Virginia Beach Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.82%
Cash-on-Cash
-0.52%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93