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Southern States - Richmond (Midlothian) VA 1200 Alverser Dr 25,000 SF Retail Building Midlothian, VA 23113 $4,765,000 ($190.60/SF) 6.35% Cap Rate
INVESTMENT HIGHLIGHTS
- Corporate Guaranteed Lease | Scheduled Rental Increases |Options To Extend
- Adjacent to Midlothian Depot - $100M+ Whole Foods Anchored Development Project
- Signalized, Hard Corner Intersection | Excellent Visibility & Access
- Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
- 2-Miles From Chesterfield Towne Center | Primary Retail Corridor
- Strong Demographics In 5-Mile Trade Area
EXECUTIVE SUMMARY
SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, Southern States investment property located in Midlothian, Virginia. The tenant, Southern States, has 2-years remaining on their 10-year lease with 1 (10-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
25,000 SF
Building Class
C
Year Built
1988
Price
$4,765,000
Price Per SF
$190.60
Cap Rate
6.35%
NOI
$302,500
Tenancy
Single
Building Height
1 Story
Loading Docks
2 Exterior
Building FAR
0.20
Lot Size
2.94 AC
Zoning
C-3 - A commercial zoning district that allows for a variety of commercial uses, including shopping centers and mixed-use projects.
Parking
86 Spaces (3.44 Spaces per 1,000 SF Leased)
Frontage
484’ on Alverser Dr
AMENITIES
- Pylon Sign
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 738-70-98-16-800-000 | Improvements Assessment | $3,533,100 |
| Land Assessment | $833,300 | Total Assessment | $4,366,400 |
PROPERTY TAXES
Parcel Number
738-70-98-16-800-000
Land Assessment
$833,300
Improvements Assessment
$3,533,100
Total Assessment
$4,366,400
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Southern States - Richmond (Midlothian) VA | 1200 Alverser Dr
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