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OfficeWarehouse 22,400 sqft 100% fully rented

  • $3,100,000 Active
  • Street Address
    2028 Virginia Beach Boulevard,
  • Category
    COMMERCIAL REAL ESTATE
    Posted Date
    Jan 05 2021
  • Country
    US
    State
    Virginia
  • City
    Virginia Beach
    Zipcode
    23454
Trade interests Question
MOTORHOMES
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BOATS
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COMMERCIAL REAL ESTATE
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AEROPLANE
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AUTOMOBILE
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RESIDENTIAL REAL ESTATE
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MOTORCYCLES
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    Property Features
    • Office / Showroom / Warehouse facility located at the convergence of Laskin Rd, Virginia Beach Blvd, and I-264
    • Split face concrete block and metal building constructed in 2005; 4,000 SF warehouse expansion completed in 2015
    • T8 warehouse lighting; Reznor natural gas heaters; security system in place; 150 SF warehouse office, and separate warehouse restroom
    • Fully leased, 2 quality tenants, 5-year leases with 5 year options
    • 12/19 – 12 /20 NOI: $198,787.50; 6.6% CAP Rate
    • 12/20 – 12 /21 NOI: $204,779.00; 6.8% CAP Rate
    • 12/21 – 12 /22 NOI: $210,922.42; 7.0% CAP Rate
    • Triple net lease; operating expenses $1.40 SF
    • Sales price: $2,990,000.00

Specifications Total Building Size Office/Showroom/ Customer Service Warehouse Loading: Clear Height Power Zoning Parking Outside Storage 22,355 SF on 1.54 acres 4,610 SF 15,790 SF (including 2,751 SF concrete load bearing mezzanine with forklift access) Two dock doors (9’w x 10’h) and one grade level door (12’w x 12’h) 23’9” to 25’ 3-phase/208/120v/4-wire system I-1; APZ-2 and Noise Zone 75 DNL restrictions; no Navy Air Easement restrictions 26 dedicated spaces Fenced and gated rear yard