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441 Piney Forest Road

Robbins 9, LLC Sells Piney Forest Commons Retail Center In Danville For $2M
SOLDRetail

Robbins 9, LLC Sells Piney Forest Commons Retail Center In Danville For $2M

441 Piney Forest Road

$2,000,000

$61/SF

Building Size

32,408 SF

Asset Type

Retail

Closing

Feb 29, 2024

AI

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:

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.

Players

Clay Taylor

Cushman & Wakefield

Broker

$92.7M

vol

18 deals

Broker

Danville 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

7.93%

Cash-on-Cash

-2.27%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93