December 2011 saw the sale of a 7,500 square foot flex building in Central Goochland County. Purchased as an investment, the in-place income suggests a cap rate of 10.15%, which is what other appraisal firms might report. Exceeding typical sales verification efforts, Lester, Barber, and Associates, Inc. learned that the purchaser attributed value to excess land which he will use for construction of an owner-occupied building, thus driving up the cap rate. For more information on industrial investment information, please go to our website or email us.
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Filed under: Market Data
