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7804 West Broad Street

Hackney Real Estate Partners Sells Merchant's Walk Shopping Center In Henrico, VA For $18.4M With John Madures As Buyer's Rep
SOLDRetail

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

John Madures

Divaris Real Estate

Broker

$49.9M

vol

5 deals

Broker
HP
Hackney Real Estate PartnersSeller

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