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Mike Degen & Wilson H. Greenlaw Sell Fredericksburg Office For $3.3M
SOLD
$3,300,000
Virginia
See Similar DealsOffice20,480 SF
Sold 02/13/2024
SOLD
Mike Degen & Wilson H. Greenlaw Sell Fredericksburg Office For $3.3M
915 Maple Grove Drive
See Similar DealsOffice20,480 SF
Sold 02/13/2024
Summary
VIRGINIA
Asset Type:Office
Price Per Square Foot:$161
Total Square Footage:20,480 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$175,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$11,724.21
Cash-on-Cash Return-1.27%
Monthly Debt Service$15,643.68
Annual Debt Service$187,724.20
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