Rio Road Shops, LLC Sells Retail Property In Charlottesville, Virginia For $7.15M
1650 Rio Rd E, Charlottesville, VA 22901, USA
$7,150,000
$107/SF
Building Size
66,603 SF
Asset Type
Retail
Closing
Nov 9, 2021
About this deal
AI
The retail property located at 1650 Rio Rd in Charlottesville, Virginia has been sold in a recent transaction. The property, with a total square footage of 14,696, was sold for a price of $7,150,000, resulting in a price per square foot of $487. The sale was made by Rio Road Shops, LLC.
Summary of transaction details:
- Property Type: Retail
- Sale Price: $7,150,000
- Square Footage: 14,696
- Price per Square Foot: $487
- Address: 1650 Rio Rd, Charlottesville, Virginia
- Market: Charlottesville, Virginia
Catharine Spangler from Cushman & Wakefield | Thalhimer’s Capital Markets Group represented the seller, Rio Road Shops, LLC, in this transaction.
Charlottesville 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
2.22%
Cash-on-Cash
-0.63%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93