Q&L Realty Acquires Retail Property In Colonial Heights, VA For $5.5M
SOLD
$5,500,000
Virginia
See Similar DealsRetail34,705 SF
Sold 07/18/2022
SOLD
Q&L Realty Acquires Retail Property In Colonial Heights, VA For $5.5M
1865 Southpark Boulevard, Colonial Heights, Virginia 23834, United States
See Similar DealsRetail34,705 SF
Sold 07/18/2022
Summary
VIRGINIA
Asset Type:Retail
Price Per Square Foot:$158
Total Square Footage:34,705 SF
Transaction Type:Sale
The retail property located at 1829-1865 Southpark Blvd in Colonial Heights, VA has been sold in a closed transaction. The property spans approximately 34,705 square feet and was sold for a total price of $5,500,000, resulting in an average price per square foot of $158.
Summary of transaction details:
- Property Type: Retail
- Sale Price: $5,500,000
- Square Footage: 34,705
- Price per Square Foot: $158
- Address: 1829-1865 Southpark Blvd, Colonial Heights, VA
- Market: Colonial Heights, VA
The buyer of the property is Q&L Realty, while the transaction was facilitated by John Madures of Divaris Real Estate.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$293,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$19,540.35
Cash-on-Cash Return-1.27%
Monthly Debt Service$26,072.81
Annual Debt Service$312,873.67
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