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Twisted Crab - Properties, LLC Acquires Retail Building In Virginia Beach For $2.55M

Property Image
SOLD
$2,550,000

Virginia

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Retail10,280 SF
Sold 11/14/2023
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Property Image
SOLD

Twisted Crab - Properties, LLC Acquires Retail Building In Virginia Beach For $2.55M

2712 North Mall Drive

See Similar Deals
Retail10,280 SF
Sold 11/14/2023
the dealplayerscompscontact
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Summary

VIRGINIA
Asset Type:Retail
Price Per Square Foot:$248
Total Square Footage:10,280 SF
Transaction Type:Sale

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.

Players

Dean G. Martin
Cushman & Wakefield
Dean G. Martin
4 deals$12.3M volume(757) 213-4158
BROKER

Details

SOLD
IMAGE: Dean G. Martin DATE: 11/14/2023 ADDRESS: 2712 North Mall Drive MARKET: Virginia Beach, VA ASSET TYPE: Retail ~ ACRES: 1.52 BUYER: Twisted Crab – Properties, LLC SELLER: WSTL BROKER: Dean G. Martin - Cushman & Wakefield SALE PRICE: $2,550,000 SF: 10,280 ~ PPSF: $248 NOTE: Cushman & Wakefield | Thalhimer has facilitated the sale of a retail building at 2712 N. Mall Drive in Virginia Beach, Virginia. The 10,280 square foot property on 1.52 acres was purchased by Twisted Crab – Properties, LLC for $2,550,000 as an investment.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$136,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$9,059.60
Cash-on-Cash Return-1.27%
Monthly Debt Service$12,088.30
Annual Debt Service$145,059.61