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Divaris Real Estate Announces Sale Of Merchant's Walk Shopping Center In Henrico, Virginia To Local Investor Qi Lin For $18.4M
SOLD
$18,400,000
Virginia
See Similar DealsRetail219,972 SF
Sold 09/18/2023
SOLD
Divaris Real Estate Announces Sale Of Merchant's Walk Shopping Center In Henrico, Virginia To Local Investor Qi Lin For $18.4M
7580 W Broad St
See Similar DealsRetail219,972 SF
Sold 09/18/2023
Summary
VIRGINIA
Asset Type:Retail
Price Per Square Foot:$83
Total Square Footage:219,972 SF
Transaction Type:Sale
Divaris Real Estate has announced the sale of Merchant's Walk Shopping Center in Henrico, Virginia. The property, located at 7580 W Broad St, was sold to local investor Qi Lin for $18.4 million. The retail asset spans 219,972 square feet, with a price per square foot of $84.
Summary of transation details
- Property Type: Retail
- Transaction Amount: $18,400,000
- Square Footage: 219,972
- Address: 7580 W Broad St, Henrico, VA
- Market: Henrico, VA
The sale was facilitated by John Madures and Loretta Cataldi, brokers from Divaris Real Estate. They represented Qi Lin in this transaction.
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30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$981,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$65,371.32
Cash-on-Cash Return-1.27%
Monthly Debt Service$87,225.39
Annual Debt Service$1,046,704.65
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