Brendan-Matthew LLC Sells 48,580 SF Office Building In Salem VA For $5.7M
616 Idaho Street
$5,695,000
$117/SF
Building Size
48,580 SF
Asset Type
Office
Closing
Feb 5, 2025
About this deal
AI
The transaction involved the sale of an office asset located at 616 Idaho Street in Salem, VA. The property spans 4.95 acres and encompasses a total square footage of 48,580. The office building was sold for $5,695,000, which equates to a price per square foot of $117.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $5,695,000
- Address: 616 Idaho Street
- Market: Salem, VA
- Acres: 4.95
- Square Footage: 48,580
- Price per Square Foot: $117
- Seller: Brendan-Matthew LLC
- Brokers: Barry Ward & William (Bill) Poe - Cushman & Wakefield
The buyer, whose identity remains undisclosed, is set to occupy the office space following the purchase. Barry Ward and William (Bill) Poe represented Brendan-Matthew LLC in the transaction.
On the Map
$5,695,000
$117/SF
Office
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Players
Salem 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
2.79%
Cash-on-Cash
-0.80%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93