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2201 East Main Street

Broom Factory LLC Acquires Office Building In Richmond, VA For $1.32M
SOLDOffice

Broom Factory LLC Acquires Office Building In Richmond, VA For $1.32M

2201 East Main Street

$1,325,000

$97/SF

Building Size

13,560 SF

Asset Type

Office

Closing

Jun 18, 2024

AI

An office building spanning 13,560 square feet, located at 2201 East Main Street in Richmond, Virginia, was sold for $1,325,000. The transaction was facilitated by Jeff Cooke, SIOR, and Reilly Marchant of Cushman & Wakefield | Thalhimer, representing an investment move in the city's real estate market.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $1,325,000
  • Square Footage: 13,560
  • Address: 2201 East Main Street
  • Market: Richmond, VA
  • Buyer: Broom Factory LLC
  • Broker: Jeff Cooke - Cushman & Wakefield
  • Price per Square Foot: $98

Broom Factory LLC acquired the office building at 2201 E Main Street in Richmond, Virginia. Jeff Cooke of Cushman & Wakefield played a pivotal role in facilitating the transaction, showcasing his expertise in the city's real estate market.

Players

Jeffrey Cooke

Cushman & Wakefield

Broker

$8.8M

vol

4 deals

Broker

Richmond 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

11.97%

Cash-on-Cash

-3.42%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93