$2.5M Acquired: Retail Property On 1.61 Acres In Virginia Beach, VA By Colliers
SOLD
$2,500,000
Virginia
See Similar DealsRetail13,685 SF
Sold 11/08/2022
SOLD
$2.5M Acquired: Retail Property On 1.61 Acres In Virginia Beach, VA By Colliers
6361 Indian River Road, Virginia Beach, Virginia 23464, United States
See Similar DealsRetail13,685 SF
Sold 11/08/2022
Summary
VIRGINIA
Asset Type:Retail
Price Per Square Foot:$182
Total Square Footage:13,685 SF
Transaction Type:Sale
The retail property located at 6361-6365 Indian River Road in Virginia Beach, VA has been sold for $2,500,000. The property spans an area of 1.61 acres and has a total square footage of 13,685. The price per square foot for this transaction is calculated to be $183.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $2,500,000
- Address: 6361-6365 Indian River Road, Virginia Beach, VA
- Market: Virginia Beach, VA
- Acres: 1.61
- Square Footage: 13,685
The deal was facilitated by brokers Jeff Fritz and Jay O’Donnell from Colliers.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$133,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$8,881.99
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,851.28
Annual Debt Service$142,215.31
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