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Costco Wholesale Acquires Office Building In Springfield, VA For $6.55M
SOLD
$6,550,000
Virginia
See Similar DealsOffice27,000 SF
Sold 06/06/2023
SOLD
Costco Wholesale Acquires Office Building In Springfield, VA For $6.55M
7375 Boston Boulevard Springfield, Virginia 22153, USA
See Similar DealsOffice27,000 SF
Sold 06/06/2023
Summary
VIRGINIA
Asset Type:Office
Price Per Square Foot:$242
Total Square Footage:27,000 SF
Transaction Type:Sale
The office property located at 7375 Boston Boulevard in Springfield, VA has been sold. The transaction took place on 06/06/2023. The property was purchased by Costco Wholesale at a price of $6,550,000. The office building has a total area of 27,000 square feet, resulting in a price per square foot of $243. The seller of the property was Finmarc Management Inc, represented by David Fink.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $6,550,000
- Square Footage: 27,000
- Price Per Square Foot: $243
- Address: 7375 Boston Boulevard, Springfield, VA
- Market: Springfield, VA
David Fink, representing Finmarc Management Inc, acted as the seller in the transaction. Costco Wholesale was the buyer.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$349,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$23,270.78
Cash-on-Cash Return-1.27%
Monthly Debt Service$31,050.34
Annual Debt Service$372,604.10
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