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Robbins 9, LLC Sells Piney Forest Commons Retail Center In Danville For $2M
SOLD
$2,000,000
Virginia
See Similar DealsRetail32,408 SF
Sold 02/29/2024
SOLD
Robbins 9, LLC Sells Piney Forest Commons Retail Center In Danville For $2M
441 Piney Forest Road
See Similar DealsRetail32,408 SF
Sold 02/29/2024
Summary
VIRGINIA
Asset Type:Retail
Price Per Square Foot:$61
Total Square Footage:32,408 SF
Transaction Type:Sale
A 32,408-square-foot multi-tenant retail center located at 441 Piney Forest Road in Danville, VA, was recently sold for $2,000,000. The property known as Piney Forest Commons was the asset type in this transaction.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $2,000,000
- Address: 441 Piney Forest Road
- Market: Danville, VA
- SF: 32,408
- Price Per Square Foot: $62
- Seller: Robbins 9, LLC
- Brokers: Bo McKown & Clay Taylor - Cushman & Wakefield
The sale of Piney Forest Commons was facilitated with representation from Cushman & Wakefield | Thalhimer’s Capital Markets Group. Bo McKown and Clay Taylor from Cushman & Wakefield were the brokers overseeing this transaction, ensuring a successful deal for all parties involved.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$106,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$7,105.57
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,481.02
Annual Debt Service$113,772.24
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