Best Buy Wheels Acquires Retail Property In Virginia Beach For $1.5M
1305 Oceana Boulevard
$1,500,000
$384/SF
Building Size
3,904 SF
Asset Type
Retail
Closing
Apr 2, 2023
AI
Best Buy Wheels has purchased a retail property located at 1305 Oceana Blvd in Virginia Beach, VA. The property, with a total area of 3,904 square feet, was sold by BT Associates LLC for a price of $1,500,000. This translates to a price per square foot of $384.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $1,500,000
- Address: 1305 Oceana Blvd, Virginia Beach, VA
- Market: Virginia Beach, VA
- Buyer: Best Buy Wheels
- Seller: BT Associates LLC
- Brokers: Clay Willis & Brett Sain - Cushman & Wakefield
Cushman & Wakefield, represented by Clay Willis and Brett Sain, facilitated the transaction between Best Buy Wheels and BT Associates LLC. They acted as brokers in the deal, ensuring a successful transaction for both parties involved.
Players
Virginia Beach Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
10.58%
Cash-on-Cash
-3.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93