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Marcus & Millichap Sells Brickyard Shopping Center In Richlands, VA For $4.375M
SOLD
$4,375,000
+ 2
Virginia
See Similar DealsRetail86,246 SF
Sold 10/31/2023
SOLD
Marcus & Millichap Sells Brickyard Shopping Center In Richlands, VA For $4.375M
114 Kents Ridge Road
See Similar DealsRetail86,246 SF
Sold 10/31/2023
+ 2
Summary
VIRGINIA
Asset Type:Retail
Price Per Square Foot:$50
Total Square Footage:86,246 SF
Transaction Type:Sale
Marcus & Millichap has announced the sale of the Brickyard Shopping Center located at 114 Kents Ridge Road in Richlands, Virginia. The retail property was sold for a total price of $4,375,000.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $4,375,000
- Square Footage: 86,246
- Price per Square Foot: $51
- Address: 114 Kents Ridge Road
- Market: Richlands, VA
The deal was facilitated by Marcus & Millichap brokers Brian Hosey, Eric Abbott, Zachary Taylor, David Crotts, and Dean Zang. They represented the parties involved in the transaction.
It is worth noting that the sale of the Brickyard Shopping Center marks a significant milestone for the real estate market in Richlands, Virginia.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$233,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$15,543.46
Cash-on-Cash Return-1.27%
Monthly Debt Service$20,739.73
Annual Debt Service$248,876.78
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