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14361 Sommerville Ct

12,250 SF 100% Leased Office Building Midlothian, VA 23113 £2,073,493 (£169/SF) 8% Net Initial Yield

Investment Highlights

  • All Brick, metal roof construction. Meticulously maintained throughout.
  • Offered at a 8.0% CAP rate on actual income and expenses.
  • 100% Leased to real estate or financial tenants.

Executive Summary

Napier ERA occupies the entire second floor and there are only four other tenants, all financial in nature. Significant upside in rents and future use of the building. Meticulously maintained with no deferred maintenance.

Property Facts

Sale Type
Investment
Sale Condition
Sale & Leaseback
Property Type
Office
Property Subtype
Medical
Building Size
12,250 SF
Building Class
B
Year Built
2004
Price
£2,073,493
Price Per SF
£169
Net Initial Yield
8%
NOI
£165,939
Percent Leased
100%
Tenancy
Multiple
Number of Floors
2
Typical Floor Size
6,125 SF
Building FAR
0.27
Lot Size
1.03 AC
Zoning
I1 - Zoning permits a wide range of business, medical and professional uses.
Parking
52 Spaces (4.84 Spaces per 1,000 SF Leased)

Amenities

  • Atrium
  • Signage
  • Kitchen
  • High Ceilings
  • Partitioned Offices
  • Reception
  • Wi-Fi
  • Monument Signage
  • Air Conditioning

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
722-70-94-06-400-000
Land Assessment
£161,967
Improvements Assessment
£1,069,061
Total Assessment
£1,231,029
  • Listing ID: 32185872

  • Date on Market: 19/06/2024

  • Last Updated:

  • Address: 14361 Sommerville Ct, Midlothian, VA 23113

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