Medalist Diversified REIT Acquires 4.39 Acres Office Property In Virginia Beach For $7.3M
2697 International Parkway, Virginia Beach, VA, USA
$7,300,000
$113/SF
Building Size
64,109 SF
Asset Type
Office
Closing
Nov 5, 2021
About this deal
AI
An office property located at 2697 International Parkway in Virginia Beach, VA has been sold in a closed transaction. The property spans over 4.39 acres and is classified as an office asset. The sale took place on 11/05/2021.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $7,300,000
- Square Footage: 64,109
- Price Per Square Foot: $114
- Address: 2697 International Parkway, Virginia Beach, VA
- Market: Virginia Beach, VA
Medalist Diversified REIT purchased the property from CCP Commercial Real Estate. The transaction was facilitated by Pat Mugler, Ricky Anderson, and Michael Ettel from Colliers.
Players
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
2.17%
Cash-on-Cash
-0.62%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93