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3405 Commerce Rd 41,396 SF Industrial Building Richmond, VA 23234 $5,100,000 ($123.20/SF)
INVESTMENT HIGHLIGHTS
- Market cap rate
- 42,628 SF
- New roof- 20 year warranty
- Phenomonal location fronting I-95
- Strong local tenant
EXECUTIVE SUMMARY
This single-tenant, long term lease investment opportunity is a chance for an investor to buy a strong cash flow building with market annual increases. The current lease with Git The Trucking Commercial Tires, a commercial tire installation and road service company, has been in place for over a year. Prior to the current tenant, the conditioned one-story building was previously used for printing and direct mail. The highly 1-95 visible building is approximately 41, 396 sf and has three (3) loading docks, one drive-in door, two (2) levelers and 3 phase/240 V/ 3000-amp service. The sizable property contains approximately 177 parking spaces within the 3.46-acre parcel.
The industrial market in the Richmond area is extremely strong as demand remains very healthy. Rental rates have grown significantly in recent prior years and are still extremely stout. Richmond is extremely well located at the intersection of 1-95 and 1- 64, making it an excellent distribution location for the entire East Coast. 3405 Commerce has a Triple Net Lease structure with tenant responsible for all real estate taxes, building insurance, utilities and maintenance. The buyer of this property will be able to secure a robust return with very little
management headaches.
The industrial market in the Richmond area is extremely strong as demand remains very healthy. Rental rates have grown significantly in recent prior years and are still extremely stout. Richmond is extremely well located at the intersection of 1-95 and 1- 64, making it an excellent distribution location for the entire East Coast. 3405 Commerce has a Triple Net Lease structure with tenant responsible for all real estate taxes, building insurance, utilities and maintenance. The buyer of this property will be able to secure a robust return with very little
management headaches.
PROPERTY FACTS
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PROPERTY TAXES
| Parcel Number | S008-0822-072 | Improvements Assessment | $1,142,000 |
| Land Assessment | $892,000 | Total Assessment | $2,034,000 |
PROPERTY TAXES
Parcel Number
S008-0822-072
Land Assessment
$892,000
Improvements Assessment
$1,142,000
Total Assessment
$2,034,000
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3405 Commerce Rd
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