Twisted Crab - Properties, LLC Acquires Retail Building In Virginia Beach For $2.55M
2712 North Mall Drive
$2,550,000
$248/SF
Building Size
10,280 SF
Asset Type
Retail
Closing
Nov 14, 2023
About this deal
AI
The retail building located at 2712 N. Mall Drive in Virginia Beach, Virginia has been sold. The property spans 10,280 square feet and sits on 1.52 acres. The sale price for this investment property was $2,550,000.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $2,550,000
- Address: 2712 N. Mall Drive, Virginia Beach, VA
- Market: Virginia Beach, VA
- Size: 10,280 square feet
- Acres: 1.52
Twisted Crab – Properties, LLC acquired the retail building from the seller, WSTL. The transaction was facilitated by Dean G. Martin of Cushman & Wakefield. The purchase was made as an investment by Twisted Crab – Properties, LLC through their representative, Dean G. Martin of Cushman & Wakefield.
Note: Cushman & Wakefield | Thalhimer played a crucial role in the successful completion of this sale, connecting the buyer and seller. The retail building at 2712 N. Mall Drive presents a valuable investment opportunity for Twisted Crab – Properties, LLC.
Virginia Beach 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
6.22%
Cash-on-Cash
-1.78%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93