Cedar Lakes Associates, LLC Acquires Cedar Lakes Center Retail Property In Chesapeake For $4.9M
561 565 Cedar Road Chesapeake, Virginia 23322, Usa
$4,900,000
$137/SF
Building Size
35,659 SF
Asset Type
Retail
Closing
Jul 6, 2023
About this deal
AI
A 35,659 square foot retail center located at 561-565 Cedar Road in Chesapeake, Virginia, has been sold to Cedar Lakes Associates, LLC. The property spans 3.79 acres and was purchased for $4.9 million. The retail center is situated in the Cedar Lakes area of Chesapeake.
Summary of transaction details
- Property Type: Retail
- Sale Price: $4,900,000
- Square Footage: 35,659
- Address: 561-565 Cedar Road
- Market: Chesapeake, VA
The buyer in this transaction is Cedar Lakes Associates, LLC. The deal was facilitated by broker Dean G. Martin of Cushman & Wakefield. No additional information about the buyer or broker was provided.
Chesapeake 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
3.24%
Cash-on-Cash
-0.93%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93