SR North Allen LLC Acquires 3.75 Acre Parking Lot In Richmond, VA For $7.9M
900 North Allen Avenue Richmond, Virginia 23220, USA
$7,900,000
Building Size
—
Asset Type
Other
Closing
Jul 14, 2023
About this deal
AI
SR North Allen LLC has acquired a 3.750-acre parking lot located at 900 North Allen Avenue in Richmond, VA. The transaction was facilitated through Realty Exchange Corp and the sale price amounted to $7,900,000. Storyland Properties was the seller in this transaction, with Douglas O. Tice III from S. L. Nusbaum Realty representing them as the broker.
Summary of transaction details
- Property Type: Parking Lot
- Transaction Amount: $7,900,000
- Acres: 3.75
- Address: 900 North Allen Avenue, Richmond, VA
- Market: Richmond, VA
Douglas O. Tice III served as the broker for the seller, Storyland Properties, in this transaction. Tice represents S. L. Nusbaum Realty. The acquisition by SR North Allen LLC was a significant move, marking their investment in this parking lot property in Richmond.
Players
Richmond 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
2.01%
Cash-on-Cash
-0.57%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93