Brite Electric Acquires Office Building In Norfolk, Virginia For $1.05M
5400 Robin Hood Road, Norfolk, Virginia, USA
$1,050,000
$96/SF
Building Size
10,867 SF
Asset Type
Office
Closing
Nov 16, 2021
About this deal
AI
An office property located at 5400 Robin Hood Road in Norfolk, Virginia has been sold for a price of $1,050,000. The property spans 10,867 square feet, resulting in a price per square foot of $97. The transaction took place on November 16, 2021 between the buyer, Brite Electric, and the seller, Day & Zimmerman. The sale was facilitated by Rob Wright and Dawn F. Griggs of Cushman & Wakefield | Thalhimer.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $1,050,000
- Address: 5400 Robin Hood Road, Norfolk, Virginia
- Market: Norfolk, Virginia
In this transaction, Brite Electric acquired the office property located at 5400 Robin Hood Road. Represented by Rob Wright and Dawn F. Griggs of Cushman & Wakefield | Thalhimer, Brite Electric successfully closed the deal with Day & Zimmerman as the seller.
On the Map
$1,050,000
$96/SF
Office
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Players
Norfolk 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
15.11%
Cash-on-Cash
-4.32%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93