Hackney Real Estate Partners Sells Merchant's Walk Shopping Center In Henrico, VA For $18.4M With John Madures As Buyer's Rep
7804 West Broad Street
$18,400,000
$83/SF
Building Size
219,972 SF
Asset Type
Retail
Closing
Sep 19, 2023
AI
The Merchant's Walk Shopping Center, a retail center located at 7804 West Broad Street in Henrico, Virginia, has been sold for $18.4 million. The property spans 219,972 square feet and was purchased by the buyer represented by Senior Vice President John Madures of Divaris Real Estate. The deal was brokered by John Madures himself.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $18,400,000
- Address: 7804 West Broad Street, Henrico, VA
- Square Footage: 219,972
- Price per Square Foot: $84
- Seller: Hackney Real Estate Partners
- Broker: John Madures - Divaris Real Estate
Divaris Real Estate, with John Madures overseeing the transaction, successfully brokered the sale of the Merchant's Walk Shopping Center. The buyer, represented by John Madures, acquired the property for $18.4 million. The retail center, encompassing 219,972 square feet, is expected to contribute significantly to the buyer's portfolio.
Players
Brimfield 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
0.86%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93