Marcus & Millichap Sells Brickyard Shopping Center In Richlands, VA For $4.375M
114 Kents Ridge Road
$4,375,000
$50/SF
Building Size
86,246 SF
Asset Type
Retail
Closing
Oct 31, 2023
AI
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.
Players
Richlands Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.63%
Cash-on-Cash
-1.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93