First National Realty Partners Acquires Promenade At Manassas In Retail Sale
7486 Stream Walk Ln, Manassas, VA...
Building Size
287,000 SF
Asset Type
Retail
Closing
Nov 22, 2023
AI
The Promenade at Manassas is a 287,000-square-foot shopping center located at 7486 Stream Walk Ln, Manassas, VA. Built in 1995, this retail property features an anchor tenant, Home Depot, occupying 107,000 square feet. Situated in the market of Manassas, the center also houses other tenants such as Oh! Market, Ashley Home Furniture, Planet Fitness, The Tile Shop, and Sherwin-Williams. The property's strategic location is at the intersection of I-66 and Sudley Road, just 31 miles west of Washington, D.C.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not disclosed
- Seller's Rep: Ryan Sciullo (CBRE)
- Buyer: First National Realty Partners
- SF: 287,000
Ryan Sciullo of CBRE played a crucial role in the sale of the Promenade at Manassas, representing the undisclosed seller in the transaction. On the other side of the deal, First National Realty Partners LLC made the acquisition. The specifics of the sales price were not revealed to the public.
Players
Manassas 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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93