EastGate Town, LLC Acquires Retail Property In Richmond, Virginia For $18.3M
SOLD
$18,300,000
Virginia
See Similar DealsRetail117,773 SF
Sold 12/02/2021
SOLD
EastGate Town, LLC Acquires Retail Property In Richmond, Virginia For $18.3M
4905 Nine Mile Road, Richmond, VA, USA
See Similar DealsRetail117,773 SF
Sold 12/02/2021
Summary
VIRGINIA
Asset Type:Retail
Price Per Square Foot:$155
Total Square Footage:117,773 SF
Transaction Type:Sale
The retail property located at 4905-4995 Nine Mile Road in Richmond, Virginia has been sold in a transaction. The property spans a total area of 117,773 square feet and was sold for a price of $18,300,000, resulting in a price per square foot of $155. The sale took place on 12/02/2021.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $18,300,000
- Date: 12/02/2021
- Address: 4905-4995 Nine Mile Road
- Market: Richmond, Virginia
- Buyer: EastGate Town, LLC
- Seller: Eastgate Town Center, LLC
- Buyer's Representative: The Premier Companies
- Seller's Representatives: Mark Williford & Will Bradley - Colliers
The buyer, EastGate Town, LLC, was represented by The Premier Companies. On the other hand, the seller, Eastgate Town Center, LLC, was represented by Mark Williford and Will Bradley, who work at Colliers.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$976,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$65,016.03
Cash-on-Cash Return-1.27%
Monthly Debt Service$86,751.34
Annual Debt Service$1,041,016.03
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