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Horvath & Tremblay Brokers Sell Chipotle & McAlister's Deli In Fredericksburg For $4.4M
SOLD
$4,408,842
Virginia
See Similar DealsRetail5,781 SF
Sold 03/28/2024
SOLD
Horvath & Tremblay Brokers Sell Chipotle & McAlister's Deli In Fredericksburg For $4.4M
5621 Plank Road
See Similar DealsRetail5,781 SF
Sold 03/28/2024
Summary
VIRGINIA
Asset Type:Retail
Price Per Square Foot:$762
Total Square Footage:5,781 SF
Transaction Type:Sale
The property located at 5621 Plank Rd. (Ste. 100) in Fredericksburg, VA, was sold for a total of $4,408,842. The retail asset, situated on a 1.01-acre parcel, features a modern build-to-suit plaza housing Chipotle & McAlister’s Deli. The property spans 5,781 square feet, equating to a price per square foot of $763.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $4,408,842
- Address: 5621 Plank Road
- Market: Fredericksburg, VA
- Square Footage: 5,781
Austin Smith and Kyle Danielson from Horvath & Tremblay were the brokers responsible for facilitating the sale of the Chipotle & McAlister’s Deli property in Fredericksburg, VA. The successful transaction was finalized on March 28, 2024.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$235,138.24
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$15,663.69
Cash-on-Cash Return-1.27%
Monthly Debt Service$20,900.16
Annual Debt Service$250,801.92
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