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Marcus & Millichap Brokers Sell Retail Property In Richlands, VA For $1.55M
SOLD
$1,550,000
Virginia
See Similar DealsRetail9,800 SF
Sold 05/17/2023
SOLD
Marcus & Millichap Brokers Sell Retail Property In Richlands, VA For $1.55M
2510 South Front Street Richlands, Virginia 24641, Usa
See Similar DealsRetail9,800 SF
Sold 05/17/2023
Summary
VIRGINIA
Asset Type:Retail
Price Per Square Foot:$158
Total Square Footage:9,800 SF
Transaction Type:Sale
A retail property located at 2510 South Front Street in Richlands, VA, has been sold for a price of $1,550,000. The property spans approximately 9,800 square feet, resulting in a price per square foot of $158. The transaction took place on May 17, 2023.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $1,550,000
- Square Footage: 9,800
- Price per Square Foot: $158
- Address: 2510 South Front Street, Richlands, VA
- Market: Richlands, VA
The sale of the retail property was facilitated by Craig Dunkle and Mher Vartanian from the Marcus & Millichap brokerage.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$82,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$5,506.82
Cash-on-Cash Return-1.27%
Monthly Debt Service$7,347.79
Annual Debt Service$88,173.49
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