Lenhart-Frauenberg Partnership Sells Retail Property In Virginia Beach For $1.7M
SOLD
$1,700,000
Virginia
See Similar DealsRetail8,537 SF
Sold 04/24/2023
SOLD
Lenhart-Frauenberg Partnership Sells Retail Property In Virginia Beach For $1.7M
5650 Virginia Beach Boulevard, Virginia Beach, Virginia 23462, United States
See Similar DealsRetail8,537 SF
Sold 04/24/2023
Summary
VIRGINIA
Asset Type:Retail
Price Per Square Foot:$199
Total Square Footage:8,537 SF
Transaction Type:Sale
The retail property located at 5650 Virginia Beach Boulevard in Virginia Beach, VA has been sold for $1,700,000. The property spans 8,537 square feet, resulting in a price per square foot of $199. The sale was facilitated by broker Ted Levin from Cushman & Wakefield on behalf of the seller, Lenhart-Frauenberg Partnership.
Summary of transaction details
- Property Type: Retail
- Sale Price: $1,700,000
- Address: 5650 Virginia Beach Boulevard
- Market: Virginia Beach, VA
- Square Footage: 8,537
- Price per Square Foot: $199
Ted Levin, representing Cushman & Wakefield, played a key role in the transaction as the broker for the sale. The successful completion of this deal highlights the collaborative efforts of both the buyer and the seller, led by their respective representatives.
Players
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$90,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$6,039.73
Cash-on-Cash Return-1.27%
Monthly Debt Service$8,058.87
Annual Debt Service$96,706.41
Is there something missing? Send suggestions