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OMILOS, LLC Acquires Retail Property In Newport News For $4.5M
SOLD
$4,500,000
Virginia
See Similar DealsRetail
Sold 07/03/2024
SOLD
OMILOS, LLC Acquires Retail Property In Newport News For $4.5M
11124 Jefferson Avenue
See Similar DealsRetail
Sold 07/03/2024
Summary
VIRGINIA
Asset Type:Retail
Transaction Type:Sale
The transaction involved the sale of a retail property located at 11124 Jefferson Avenue in Newport News, VA. The asset spans 1.95 acres and was acquired by OMILOS, LLC for $4.5 million.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $4,500,000
- Address: 11124 Jefferson Avenue
- Market: Newport News, VA
- Asset Type: Retail
- Acres: 1.95
- Buyer: OMILOS, LLC
- Brokers: Clark Simpson & Erik Conradi - Cushman & Wakefield
Cushman & Wakefield | Thalhimer's Clark Simpson and Erik Conradi served as the seller's representatives, facilitating the transaction for the 1.95-acre parcel leased by Wawa in Newport News, Virginia.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$240,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$15,987.55
Cash-on-Cash Return-1.27%
Monthly Debt Service$21,332.30
Annual Debt Service$255,987.55
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