This property is Off-Market
14513 Jefferson Davis Hwy
Woodbridge, VA 22191 ·
47,000 SF · Retail For Sale
|Gross Leasable Area||47,000 SF||Cap Rate||8%|
|Property Use Type||Investment||Lot Size||1.91 AC|
|Listing ID: 16301484||Date Created: 07/01/2009||Last Updated: 12/01/2009|
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.
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