Alcove Corporation Acquires Office Building In Norfolk, VA For $3.5M
6300 Center Drive, Norfolk, Virginia 23502, United States
$3,500,000
$128/SF
Building Size
27,250 SF
Asset Type
Office
Closing
Jan 2, 2022
AI
An office building located at 6300 Center Drive in Norfolk, VA has been sold. The property was purchased by Alcove Corporation for a total of $3,500,000. The sale was facilitated by Divaris Real Estate, Inc. as the broker.
Summary of transaction details:
- Property Type: Office Building
- Sale Price: $3,500,000
- Date: 01/03/2022
- Address: 6300 Center Drive, Norfolk, VA
- Market: Norfolk, VA
- Seller: Adler Group - Michael M Adler
- Broker: Divaris Real Estate, Inc
The buyer, Alcove Corporation, successfully acquired the office building located at 6300 Center Drive. The seller in this transaction was the Adler Group, with Michael M Adler representing the company. Divaris Real Estate, Inc. acted as the broker between the buyer and seller, facilitating the sale of the property.
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
4.53%
Cash-on-Cash
-1.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93