This Retail Property is Off-Market.

14513 Jefferson Davis Hwy
Woodbridge, VA 22191 ·

47,000 SF · Retail For Sale

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Featherstone Plaza

Price N/A Commission Split 2%
Gross Leasable Area 47,000 SF Cap Rate 8%
Property Type Retail Occupancy 100%
Property Sub-type
Neighborhood Center
More...
  • Street Retail
  • Vehicle Related
  • Retail (Other)
Tenancy Multiple
Property Use Type Investment Lot Size 1.91 AC
Listing ID: 16301484 Date Created: 07/01/2009 Last Updated: 12/01/2009

Description

Value-add and upside, as well as stability, are what real estate investors seek and Featherstone Plaza delivers. One value-add is the ability to increase rent to market rate as the economy improves, as currently both retail and industrial rents are below-market. Another plus is that the center is large enough, with over 47,000 sf and almost twenty tenants, to withstand the loss of an occasional tenant, which in the past has been quickly re-tenanted. The fact that it is 100% leased in this economy, as it has been for many years, is a testament to the long-term stability of this investment. The average tenancy is over 9 years, not including 7-11, which has been a tenant since 1964.

Woodbridge is home to one of the country' s highest concentrations of retail properties, including Potomac Mills. Featherstone Plaza is within a short distance of a new Wegmans-anchored mixed-use project at Potomac Town Center, the largest supermarket in the country. Woodbridge is located in Prince William County, VA, approximately 20 miles southwest of Washington, DC. The current estimated population of Prince William County is 386,047 persons (as of December 15, 2007). The County population has grown by 105,234 persons (37.5%) since 2000. The average annual growth rate since 2000 has been 5.3%. VDOT reports the AADT for this section of Route 1 is 38,000.

Research

14513 Jefferson Davis Hwy, Woodbridge, VA 22191 (Prince William County)

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