2070 Yellow Springs, LLC Acquires Former Bank Branch In Stafford County For $1.4M
25 Banks Ford Parkway
$1,400,000
$503/SF
Building Size
2,782 SF
Asset Type
Retail
Closing
Dec 12, 2023
About this deal
AI
Cushman & Wakefield | Thalhimer has facilitated the sale of a retail property located at 25 Banks Ford Parkway in Fredericksburg, VA. The property, which is a former bank branch, spans over 2,782 square feet and sits on approximately 0.97 acres. The transaction took place on 12/12/2023.
Summary of transation details
- Property Type: Retail
- Transaction Amount: $1,400,000
- Address: 25 Banks Ford Parkway, Fredericksburg, VA
- Market: Fredericksburg, VA
- Square Footage: 2,782
- Buyer: 2070 Yellow Springs, LLC
- Seller: Maria Petrovitch
The buyer, 2070 Yellow Springs, LLC, acquired the property from Maria Petrovitch for a total of $1,400,000. The transaction was facilitated by brokers Berkley M. Mitchell, Jamie A. Scully, CCIM, and Will McGoogan from Cushman & Wakefield.
Note: Cushman & Wakefield | Thalhimer played a key role in the sale of the property. The retail property showcases several desirable features, including its convenient location and ample space for potential business operations.
Players
Fredericksburg 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
11.33%
Cash-on-Cash
-3.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93