Federal Realty Investment Trust Acquires Retail Property In Fairfax For $22.5M
SOLD
$22,500,000
Virginia
See Similar DealsRetail75,000 SF
Sold 02/27/2019
SOLD
Federal Realty Investment Trust Acquires Retail Property In Fairfax For $22.5M
11001 Lee Hwy, Fairfax, VA, 22030
See Similar DealsRetail75,000 SF
Sold 02/27/2019
Summary
VIRGINIA
Asset Type:Retail
Price Per Square Foot:$300
Total Square Footage:75,000 SF
Transaction Type:Sale
The property located at 11001 Lee Hwy, Fairfax, VA, 22030, is a retail asset with a size of 75,000 square feet. The transaction took place on February 27, 2019, in Fairfax. The seller's representative in this deal was Michael (Mike) Gorsage from H&R Retail, while the buyer was Federal Realty Investment Trust. The property was sold for $22,500,000.00.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $22,500,000.00
- Market: Fairfax
Michael (Mike) Gorsage from H&R Retail acted as the seller's representative in the transaction, while Federal Realty Investment Trust was the buyer. This significant deal involved the transfer of a retail property in Fairfax, emphasizing the prominent role of the key individuals and companies in the real estate market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,200,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$79,937.75
Cash-on-Cash Return-1.27%
Monthly Debt Service$106,661.48
Annual Debt Service$1,279,937.75
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