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Commercial Building Management Inc Acquires Office Building In Richmond From H & T LLC For $1.2M
SOLD
$1,205,000
Virginia
See Similar DealsOffice10,442 SF
Sold 07/01/2025
SOLD
Commercial Building Management Inc Acquires Office Building In Richmond From H & T LLC For $1.2M
3119 West Clay Street & 1311 High Point Avenue
See Similar DealsOffice10,442 SF
Sold 07/01/2025
Summary
VIRGINIA
Asset Type:Office
Price Per Square Foot:$115
Total Square Footage:10,442 SF
Transaction Type:Sale
An office property located at 3119 West Clay Street and 1311 High Point Avenue in Richmond, VA, was sold for $1,205,000. The total square footage of the asset is 5,221, resulting in a price per square foot of $231.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $1,205,000
- Address: 3119 West Clay Street & 1311 High Point Avenue
- Market: Richmond, VA
- Square Footage: 5,221
- Price Per Square Foot: $231
- Buyer: Commercial Building Management, Inc
- Seller: H & T LLC
- Brokers: Birck Turnbull & Craig Douglas - Cushman & Wakefield
Commercial Building Management, Inc. made the purchase to relocate their business. Cushman & Wakefield facilitated the transaction, with Birck Turnbull representing the seller and Craig Douglas representing the buyer during negotiations.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$64,266.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$4,281.10
Cash-on-Cash Return-1.27%
Monthly Debt Service$5,712.31
Annual Debt Service$68,547.78
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