L&D Land Trust Acquires 3.5 Acre Retail Property In Zion Crossroads, Virginia For $4.9M
SOLD
$4,900,000
Virginia
See Similar DealsRetail10,296 SF
Sold 11/22/2021
SOLD
L&D Land Trust Acquires 3.5 Acre Retail Property In Zion Crossroads, Virginia For $4.9M
Freedom Drive & U.S. 15, Virginia, USA
See Similar DealsRetail10,296 SF
Sold 11/22/2021
Summary
VIRGINIA
Asset Type:Retail
Price Per Square Foot:$475
Total Square Footage:10,296 SF
Transaction Type:Sale
The retail property located at Freedom Drive at Route 15 in Zion Crossroads, Virginia has been sold. The property spans across 3.5 acres and was acquired on 11/22/2021.
Summary of transaction details:
- Property Type: Retail
- Sale Price: $4,900,000
- Square Footage: 10,296
- Price per Square Foot: $476
- Address: Freedom Drive at Route 15, Zion Crossroads, Virginia
- Market: Zion Crossroads, Virginia
The buyer of the property is L&D Land Trust, while the seller is Freedom Drive Shops LLC. The deal was facilitated by brokers Jenny Stoner, Catharine Spangler, and John Pritzlaff from Cushman & Wakefield | Thalhimer.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$261,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$17,408.68
Cash-on-Cash Return-1.27%
Monthly Debt Service$23,228.50
Annual Debt Service$278,742.00
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