Sharanya Ventures, LLC Acquires Office Building In Virginia Beach For $4.2M
3704 Pacific Avenue, Virginia Beach, Virginia 23451, United States
$4,200,000
$350/SF
Building Size
12,000 SF
Asset Type
Office
Closing
Jan 2, 2022
About this deal
AI
An office building located at 3704 Pacific Ave in Virginia Beach, VA has been sold in a transaction that took place on January 3, 2022. The property, spanning 12,000 square feet, was purchased by Sharanya Ventures, LLC for a total sale price of $4,200,000, making the price per square foot $350. The property is situated in the Virginia Beach market.
Summary of transaction details
- Property Type: Office Building
- Transaction Amount: $4,200,000
- Square Footage: 12,000
- Price Per Square Foot: $350
- Address: 3704 Pacific Ave, Virginia Beach, VA
Manan Shah was the seller of the office building. The transaction was facilitated by Divaris Real Estate, Inc, representing both the buyer, Sharanya Ventures, LLC, and the seller.
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
3.78%
Cash-on-Cash
-1.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93