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.
On the Map
$1,400,000
$503/SF
Retail
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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