Northmarq Brokers $8.7M Sale Of Office Building In Virginia Beach
SOLD
$8,700,000
Virginia
See Similar DealsOffice45 SF
Sold 11/22/2022
SOLD
Northmarq Brokers $8.7M Sale Of Office Building In Virginia Beach
1741 Corporate Landing Parkway, Virginia Beach, Virginia 23454, United States
See Similar DealsOffice45 SF
Sold 11/22/2022
Summary
VIRGINIA
Asset Type:Office
Price Per Square Foot:$193,333
Total Square Footage:45 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$463,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$30,909.27
Cash-on-Cash Return-1.27%
Monthly Debt Service$41,242.44
Annual Debt Service$494,909.26
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