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Brite Electric Acquires Office Building In Norfolk, Virginia For $1.05M

Property Image
SOLD
$1,050,000
Rob Wright
Dawn F. Griggs

Virginia

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Office10,867 SF
Sold 11/16/2021
the dealplayerscompscontact
Property Image
SOLD

Brite Electric Acquires Office Building In Norfolk, Virginia For $1.05M

5400 Robin Hood Road, Norfolk, Virginia, USA

See Similar Deals
Office10,867 SF
Sold 11/16/2021
Rob Wright
Dawn F. Griggs
the dealplayerscompscontact
Contact now

Summary

VIRGINIA
Asset Type:Office
Price Per Square Foot:$96
Total Square Footage:10,867 SF
Transaction Type:Sale

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

Dawn F. Griggs
Cushman & Wakefield
Dawn F. Griggs
4 deals$10.8M volume
BROKER
Rob Wright
Cushman & Wakefield
Rob Wright
8 deals$119.1M volume
BROKER
DZ
Day & Zimmerman
SELLER

Details

SOLD
IMAGE: Rob Wright & Dawn F. Griggs DATE: 11/16/2021 ADDRESS: 5400 Robin Hood Road MARKET: Norfolk, Virginia ASSET TYPE: Office BUYER: Brite Electric SELLER: Day & Zimmerman BROKERS: Rob Wright & Dawn F. Griggs - Cushman & Wakefield | Thalhimer SALE PRICE: $1,050,000 SF: 10,867 ~ PPSF: $97

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Deal Type
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Operating Expenses (Annual)
Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$3,730.43
Cash-on-Cash Return-1.27%
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