Mike Degen & Wilson H. Greenlaw Sell Fredericksburg Office For $3.3M
915 Maple Grove Drive
$3,300,000
$161/SF
Building Size
20,480 SF
Asset Type
Office
Closing
Feb 13, 2024
About this deal
AI
Located in Fredericksburg, VA, the property at 915 Maple Grove Drive is a Class B suburban office building in the Plank Road corridor. Spanning 20,480 square feet, the asset was acquired by an undisclosed investor from 915 Associates LLC at a sale price of $3.3 million, equating to a price per square foot of $161.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $3,300,000
- Address: 915 Maple Grove Drive
- Market: Fredericksburg, VA
- SF: 20,480
- Seller: 915 Associates LLC
- Buyer's Representative: Mike Degen
- Seller's Representative: Wilson H. Greenlaw, CCIM, SIOR
Cushman & Wakefield | Thalhimer facilitated the transaction, with Mike Degen negotiating for the buyer while Wilson H. Greenlaw, CCIM, SIOR, represented the seller in the deal.
Players
Fredericksburg 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
4.81%
Cash-on-Cash
-1.37%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93