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
$18,400,000
$83/SF
Building Size
219,972 SF
Asset Type
Retail
Closing
Sep 18, 2023
AI
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.
Players
Henrico Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.86%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93