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Red Mountain Group Inc Acquires Retail Property In Virginia Beach, VA For $1.6M

Property Image
SOLD
$1,600,000

Virginia

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Retail4 SF
Sold 12/22/2022
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Property Image
SOLD

Red Mountain Group Inc Acquires Retail Property In Virginia Beach, VA For $1.6M

2080 South Independence Boulevard, Virginia Beach, Virginia 23453, United States

See Similar Deals
Retail4 SF
Sold 12/22/2022
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Summary

VIRGINIA
Asset Type:Retail
Price Per Square Foot:$400,000
Total Square Footage:4 SF
Transaction Type:Sale

A retail property located at 2080 S Independence Blvd in Virginia Beach, VA has been sold for $1,600,000. The property has a total area of 4,925 square feet, resulting in a price per square foot of $325. The transaction was facilitated by Matthew Mousavi from SRS Real Estate Partners, representing the buyer Red Mountain Group Inc.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $1,600,000
  • Address: 2080 S Independence Blvd, Virginia Beach, VA
  • Market: Virginia Beach, VA
  • Square Footage: 4,925
  • Price Per Square Foot: $325
  • Buyer: Red Mountain Group Inc
  • Broker: Matthew Mousavi - SRS Real Estate Partners

Matthew Mousavi, from SRS Real Estate Partners, acted as the representative for Red Mountain Group Inc in this transaction. The successful sale of the retail property at 2080 S Independence Blvd highlights the expertise and professionalism of the involved parties.

Players

Matthew Mousavi
74 deals$1.1B volume
BROKER

BUYER

Details

SOLD
IMAGE: Matthew Mousavi DATE: 12/22/2022 ADDRESS: 2080 S Independence Blvd MARKET: Virginia Beach, VA ASSET TYPE: Retail BUYER: Red Mountain Group Inc BROKER: Matthew Mousavi - SRS Real Estate Partners SALE PRICE: $1,600,000 SF: 4,925 ~ PPSF: $325

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$5,684.48
Cash-on-Cash Return-1.27%
Monthly Debt Service$7,584.82
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