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11530 Midlothian Turnpike

1834 East 4 Street, LLC Acquires Retail Property In North Chesterfield, VA For $4.8M
SOLDRetail

1834 East 4 Street, LLC Acquires Retail Property In North Chesterfield, VA For $4.8M

11530 Midlothian Turnpike

$4,800,000

$591/SF

Building Size

8,120 SF

Asset Type

Retail

Closing

Nov 27, 2023

AI

The Corner Shops at Chesterfield Towne Center, located at 11530 Midlothian Turnpike in North Chesterfield, VA, has been sold in a transaction facilitated by Cushman & Wakefield | Thalhimer's Capital Markets Group. The property is a retail asset with a total area of 8,120 square feet. The sale price for the property was $4,800,000, resulting in a price per square foot of $591.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $4,800,000
  • Address: 11530 Midlothian Turnpike, North Chesterfield, VA
  • Market: North Chesterfield, VA

1834 East 4 Street, LLC acquired The Corner Shops from the seller, Midlothian Pike Investments, LLC. The buyer was represented by Clark Simpson, Erik Conradi, and Ted Levin of Cushman & Wakefield. The transaction was successfully completed on November 27, 2023.

Note: Cushman & Wakefield | Thalhimer's Capital Markets Group represented the seller, Midlothian Pike Investments, LLC, in the sale of The Corner Shops at Chesterfield Towne Center.

Players

Clark Simpson

Cushman & Wakefield

Broker

$87.8M

vol

16 deals

Broker

North Chesterfield 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

3.30%

Cash-on-Cash

-0.94%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93