Cushman & Wakefield Brokers Facilitate $24M Sale Of Retail Property In Chesapeake, VA
SOLD
$24,000,000
+ 1
Virginia
See Similar DealsRetail213,955 SF
Sold 09/16/2022
SOLD
Cushman & Wakefield Brokers Facilitate $24M Sale Of Retail Property In Chesapeake, VA
1434 Crossways Boulevard, Chesapeake, Virginia 23320, United States
See Similar DealsRetail213,955 SF
Sold 09/16/2022
+ 1
Summary
VIRGINIA
Asset Type:Retail
Price Per Square Foot:$112
Total Square Footage:213,955 SF
Transaction Type:Sale
The retail property located at 1434 Crossways Blvd in Chesapeake, VA has been sold in a transaction worth $24,000,000. The property spans a total area of 213,955 square feet, resulting in a price per square foot of $112.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $24,000,000
- Address: 1434 Crossways Blvd, Chesapeake, VA
- Market: Chesapeake, VA
- BROKERS: Eric Robison, Bo McKown, Christine Kaempfe & Kenneth Penrose Jr - Cushman & Wakefield
The sale of this retail property at 1434 Crossways Blvd was facilitated by brokers from Cushman & Wakefield, namely Eric Robison, Bo McKown, Christine Kaempfe, and Kenneth Penrose Jr.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,279,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$85,266.94
Cash-on-Cash Return-1.27%
Monthly Debt Service$113,772.24
Annual Debt Service$1,365,266.93
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