CTO Realty Growth Acquires Retail Property In Glen, VA From Shopcore For $93.9M
SOLD
$93,900,000
Virginia
See Similar DealsRetail
Sold 10/14/2022
SOLD
CTO Realty Growth Acquires Retail Property In Glen, VA From Shopcore For $93.9M
2250 Old Brick Road Suite 200, Glen Allen, Virginia 23060, United States
See Similar DealsRetail
Sold 10/14/2022
Summary
VIRGINIA
Asset Type:Retail
Transaction Type:Sale
The retail property located at 2250 Old Brick Rd Suite 200 in Glen, VA has been sold in a transaction. The property's sale price was $93,900,000.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $93,900,000
The buyer of the property was CTO Realty Growth, while the seller was Shopcore. The deal was facilitated by the brokerage firm Cushman & Wakefield.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$5,008,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$333,606.86
Cash-on-Cash Return-1.27%
Monthly Debt Service$445,133.91
Annual Debt Service$5,341,606.87
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