$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
$2,500,000
$182/SF
Building Size
13,685 SF
Asset Type
Retail
Closing
Nov 7, 2022
About this deal
AI
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
Virginia Beach 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
6.35%
Cash-on-Cash
-1.81%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93