Montecito Medical Acquires Medical Office In Cave Spring, VA For $21.6M
4348 Electric Road Cave Spring, Virginia 24018, USA
$21,600,000
$103/SF
Building Size
209,000 SF
Asset Type
Other
Closing
May 3, 2023
About this deal
AI
A medical office located at 4348 Electric Road in Cave Spring, VA has been sold for a transaction amount of $21,600,000. The property spans a total area of 209,000 square feet, resulting in a price per square foot of $103.
Summary of transation details
- Property Type: Medical Office
- Transaction Amount: $21,600,000
- Address: 4348 Electric Road, Cave Spring, VA
- Market: Cave Spring, VA
- Buyer: Montecito Medical
- Seller: Hackney Real Estate Partners & Blackwater Resources
- Square Feet: 209,000
- Price Per Square Foot: $103
The buyer of the medical office property is Montecito Medical, while the sellers are Hackney Real Estate Partners and Blackwater Resources.
On the Map
$21,600,000
$103/SF
Other
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Cave Spring Other Market Snapshot
Boundary boundary · Other · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.73%
Cash-on-Cash
-0.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93