Humana | 1817 Frederick Blvd
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Humana 1817 Frederick Blvd
7,500 SF 100% Leased Retail Building Portsmouth, VA 23707 £3,456,294 (£461/SF) 6% Net Initial Yield
Investment Highlights
- Attractive Lease Fundamentals - Strong Corporate Guaranty
- Highly Accessible Location
- Positioned in Retail Hub
Executive Summary
Strong Corporate Guaranty
- Humana is a public company with a market cap of $57.67B
- S&P Rating of BBB+
- Over 220 locations
Positioned in a Retail Hub
- Over 1.1MSF of retail space in a 1-mile radius
- Nearby major retailers include Kroger, Walmart Supercenter, TJ Maxx, Chipotle, an Starbucks
Highly Accessible Location
- Apart of retail development that provides cross access to Chipotle and Starbucks
- Ingress and egress on Turnpike Rd (6,700 VPD) and Frederick Blvd (19,000 VPD)
- Direct access to Seaboard Square, a 234 unit complex
High Growth MedTail Asset Category
- MedTail (medical retail) continues on a high growth trajectory in the United States
- Over 17.6MSF of medical space is under construction with another 19.7MSF planned
Attractive Lease Fundamentals
- Humana signed a 10 year, NNN deal providing minimal landlord responsibilities
- 10% rental increases every 5 years and option periods
New Construction
- New building is built to suit tenant’s operations
- Warranties will be assigned to new owner
- Humana is a public company with a market cap of $57.67B
- S&P Rating of BBB+
- Over 220 locations
Positioned in a Retail Hub
- Over 1.1MSF of retail space in a 1-mile radius
- Nearby major retailers include Kroger, Walmart Supercenter, TJ Maxx, Chipotle, an Starbucks
Highly Accessible Location
- Apart of retail development that provides cross access to Chipotle and Starbucks
- Ingress and egress on Turnpike Rd (6,700 VPD) and Frederick Blvd (19,000 VPD)
- Direct access to Seaboard Square, a 234 unit complex
High Growth MedTail Asset Category
- MedTail (medical retail) continues on a high growth trajectory in the United States
- Over 17.6MSF of medical space is under construction with another 19.7MSF planned
Attractive Lease Fundamentals
- Humana signed a 10 year, NNN deal providing minimal landlord responsibilities
- 10% rental increases every 5 years and option periods
New Construction
- New building is built to suit tenant’s operations
- Warranties will be assigned to new owner
Property Facts
Sale Type
Investment
Sale Conditions
Property Type
Retail
Property Subtype
Health Club
Building Size
7,500 SF
Building Class
B
Year Built
2024
Price
£3,456,294
Price Per SF
£461
Net Initial Yield
6%
NOI
£207,378
Percent Leased
100%
Tenancy
Multiple
Number of Floors
1
Building FAR
0.02
Land Acres
9.50 AC
Opportunity Zone
Yes
Frontage
Amenities
- Bus Route
MAJOR TENANTS Click Here to Access
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease End
- Humana
- -
-
99,999 SF
- -
- -
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease End | ||
| Humana | - | 99,999 SF | - | - |
PROPERTY TAXES
| Parcel Number | 0189-0320 | Improvements Assessment | £0 |
| Land Assessment | £161,462 | Total Assessment | £161,462 |
PROPERTY TAXES
Parcel Number
0189-0320
Land Assessment
£161,462
Improvements Assessment
£0
Total Assessment
£161,462
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David Hoppe -
Mike Lucier -
Ben Olmstead -
Atlantic Capital Partners
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Humana | 1817 Frederick Blvd
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