6414 E Virginia Beach Blvd 3,546 SF Retail Building Norfolk, VA 23502 £941,750 (£265.58/SF)
EXECUTIVE SUMMARY
16 Properties* / 21 leases Norfolk, Virginia
A 23 page brochure is attached explaining all 16 parcels. Page 18 relates to the parcel at 6414 Virginia Beach Boulevard., Norfolk, VA The ultimate buyer of these properties gains the opportunity to hit the ground running and be actively engaged in oversight and implementation of a proven real estate portfolio.
This cluster of occupied real estate is not a coupon clipping venture.
Besides net operating income of approximately $1,250,000.00, these closely held locally owned real estate holdings involve the full gambit of landlord responsibilities: Marketing signage and social media, interviewing prospects, lease drafting, zoning preservation, intermittent (not daily) maintenance and vendor selection and bidding for items like roofs, expansions, insurance coverage, rent collection, real estate tax payments or protests, annual IRS reporting and distribution of profits to owner(s)/investor(s).
The redacted rent roll on page iii of the brochure provides basic information with current rent rates available after signing a confidentiality agreement and basic introductions between buyer and seller.
*It is conceivable that some tenants may wish to purchase their occupied parcels, thus reducing the portfolio size and purchase price accordingly. This is an open listing paying 1% commission to agents/brokers not affiliated with the purchaser. The portfolio is on an "as-is and where-is" basis without representations except as to the existing lease documents. As of today, the portfolio will sell for $25MM (based on current NOI of $1.25MM increasing +/-3% per year). No parties are obligated until a mutually satisfactory agreement is entered into by all parties. Feel free to register your clients who have expressed an interest in having your efforts represent them in this portfolio and contact me for further information. Please do not market this to buyers of only specific parcels or to tenants who may want to purchase their occupied parcels.
For more information:
See attached brochure and
www.loopnet.com/Listing/6414-E-Virginia-Beach-Blvd-Norfolk-VA/17520677/
Lawrence Fleder
Lakebarb4@aol.com
757-623-1062 ext 213
A 23 page brochure is attached explaining all 16 parcels. Page 18 relates to the parcel at 6414 Virginia Beach Boulevard., Norfolk, VA The ultimate buyer of these properties gains the opportunity to hit the ground running and be actively engaged in oversight and implementation of a proven real estate portfolio.
This cluster of occupied real estate is not a coupon clipping venture.
Besides net operating income of approximately $1,250,000.00, these closely held locally owned real estate holdings involve the full gambit of landlord responsibilities: Marketing signage and social media, interviewing prospects, lease drafting, zoning preservation, intermittent (not daily) maintenance and vendor selection and bidding for items like roofs, expansions, insurance coverage, rent collection, real estate tax payments or protests, annual IRS reporting and distribution of profits to owner(s)/investor(s).
The redacted rent roll on page iii of the brochure provides basic information with current rent rates available after signing a confidentiality agreement and basic introductions between buyer and seller.
*It is conceivable that some tenants may wish to purchase their occupied parcels, thus reducing the portfolio size and purchase price accordingly. This is an open listing paying 1% commission to agents/brokers not affiliated with the purchaser. The portfolio is on an "as-is and where-is" basis without representations except as to the existing lease documents. As of today, the portfolio will sell for $25MM (based on current NOI of $1.25MM increasing +/-3% per year). No parties are obligated until a mutually satisfactory agreement is entered into by all parties. Feel free to register your clients who have expressed an interest in having your efforts represent them in this portfolio and contact me for further information. Please do not market this to buyers of only specific parcels or to tenants who may want to purchase their occupied parcels.
For more information:
See attached brochure and
www.loopnet.com/Listing/6414-E-Virginia-Beach-Blvd-Norfolk-VA/17520677/
Lawrence Fleder
Lakebarb4@aol.com
757-623-1062 ext 213
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
3,546 SF
Building Class
C
Year Built
1978
Price
£941,750
Price Per SF
£265.58
Tenancy
Single
Number of Floors
1
Building FAR
0.14
Lot Size
0.59 AC
Opportunity Zone
Yes
Zoning
commercial
Parking
20 Spaces (5.64 Spaces per 1,000 SF Leased)
Frontage
125 ft on Virginia Beach Blvd
AMENITIES
- Bus Route
- Pylon Sign
- Signage
ABOUT 6414 E VIRGINIA BEACH BLVD , NORFOLK, VA 23502
Recently renovated. Great highway exposure near Newtown Rd. exit off of Interstate 264.
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE END
-
- Retailer
- 3,500 SF
- -
- -
Founded in 1963, Leslie's is the largest and most trusted direct-to-consumer brand in the U.S. pool and spa care industry. They serve the aftermarket needs of residential and professional consumers with an extensive and largely exclusive assortment of essential pool and spa care products. They operate an integrated ecosystem of physical locations, and a robust digital platform, enabling consumers to engage with Leslie’s whenever, wherever, and however they prefer to shop.
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE END | ||
|
|
Retailer | 3,500 SF | - | - |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 00016880 | Improvements Assessment | £167,405 |
| Land Assessment | £193,096 | Total Assessment | £360,502 |
