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- LoopNet Team
4109 W Clay St
Richmond, VA 23230
4109 W. Clay Street · Property For Lease
HIGHLIGHTS
- Assumable Undervalued Scott's Addition Lease - Sale Ordered by US Bankruptcy Court - 3 1/2 yrs. remaining
- Total Conditioned SF 12,070 - 2,982 SF Commercial Office Space - 9,088 SF Attached Warehouse Space.
- Total savings potential over the life of the lease: $119,794.75 - $180,144.75.
PROPERTY OVERVIEW
Assumption of this Below Market Scott's Addition Lease. Opening offer is $20,000 Property Tours Scheduled Wed. May 4th & 11th Feb 18th 2-5 PM Sale is subject to US Bankruptcy Court Approval Lease Available For Review Upon Request & Signing of Trustee Approved Non-Disclosure Agreement located under Documents Tab. Buyers have the unique opportunity to bid on the assumption of this undervalued Scott's Addition Lease. Opening offer is $20,000 and the potential savings over the life of the lease are calculated below: Savings Calculations below: Market Rent for Warehouse/Office Flex Space in Scott's Addition currently ranges from $9 - $11 per square foot.(See Lease Analysis Report) Current Rent for 4109 Clay St is $4.85 per square foot until 11/30/2022. Rent will increase to $5.00 per square foot in 2023, and increases to $5.15 for the next two years and remainder of the lease which expires on 11/30/2025. Savings: Remaining 6 months 2022: $25,045.25 - $37,115.25 2023: $48,280 - $72,420 2024 - 2025: $46,469.50 - $70,609.50 Total savings potential over the life of the lease: $119,794.75 - $180,144.75
PROPERTY FACTS
| Property Type | Industrial | Rentable Building Area | 12,059 SF |
| Property Subtype | Warehouse | Year Built | 1954 |
| Property Type | Industrial |
| Property Subtype | Warehouse |
| Rentable Building Area | 12,059 SF |
| Year Built | 1954 |
