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2200 E Laburnum Ave
Richmond, VA 23222
Wendy's · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- ABSOLUTE-NET: 15.75 Years Remain on Lease with 10% Increases Every 5 Years; Including Each of the Five, 5 Year Options to Extend the Term.
- EXCELLENT VISIBILITY & EASE OF ACCESS: Property is Well Situated on a Major Retail Corridor with Frontage and Access on E. Laburnum Ave. and Hwy 360.
- FANTASTIC OPERATING HISTORY | 40 YEARS AT LOCATION: This Location has 40+ Years of Operation.
- 44 UNIT FRANCHISEE | 19 UNIT GUARANTY: Lease is Backed by Wen-Gap West, LLC.
- 1.5 MILES FROM RICHMOND RACEWAY | 51,000 SPECTATORS: Home of the Toyota Owners 400 which is a Part of the Nascar Cup Series.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
3,025 SF
Building Class
C
Year Built/Renovated
1981/2022
Price
$2,300,000
Price Per SF
$760.33
Cap Rate
5.51%
NOI
$126,717
Tenancy
Single
Building Height
1 Story
Building FAR
0.06
Lot Size
1.20 AC
Zoning
B-2
Parking
37 Spaces (12.23 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Bus Line
- Pylon Sign
PROPERTY TAXES
| Parcel Number | 802-736-4408 | Improvements Assessment | $552,800 |
| Land Assessment | $280,700 | Total Assessment | $833,500 |
