Rocky Mount Realty Acquires Retail Property In Salem, Virginia For $750K
1224 West Main Street, Salem, Virginia, USA
$750,000
$303/SF
Building Size
2,470 SF
Asset Type
Retail
Closing
Nov 21, 2021
About this deal
AI
The retail property located at 1224 West Main Street in Salem, Virginia has been sold for a price of $750,000. The transaction took place on November 21, 2021. The property has a total square footage of 2,470, resulting in a price per square foot of $304.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $750,000
The buyer of the property is Rocky Mount Realty, LLC, while the seller is RHC MP, LLC. The deal was facilitated by brokers Jessica A. Johnson and Wyatt Poats from Cushman & Wakefield | Thalhimer.
Note: The image associated with this transaction can be found at the provided Instagram link.
On the Map
$750,000
$303/SF
Retail
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Players
Salem 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
21.15%
Cash-on-Cash
-6.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93