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
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.
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