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Fairlawn 4 7335-7351 Lee Hwy 17,400 SF 100% Leased Retail Building Radford, VA 24141 $2,123,967 ($122.07/SF)
EXECUTIVE SUMMARY
PREMIER LOCATION: Located at signalized intersection seeing over 21,000 vehicles per day. Proximity to Lowe’s & Walmart Supercenter.
HIGH GROWTH MARKET: New construction Cookout, Chipotle, Starbucks, Long-John’s Silver’s, Whistle Express Car Wash.
TENANTS COMMITMENT TO THIS LOCATION: Multiple tenants have recently signed new leases or have extended their leases for 5 years.
LIMITED LANDLORD RESPONSIBILITIES: Brand-new roof. Tenants reimburse for pro-rata share of expenses.
RENT GROWTH: Each tenant has rental increases in the next 12 months. Allows for higher yield in short amount of time with limited expenses. New construction retail in area leading to increased rents, giving future owner rental upside.
LEASE CONVERSIONS: Two tenants are converting from Gross to Net Leases.
PROXIMITY TO LARGE EMPLOYERS & UNIVERSITIES: Surrounded by Virginia Tech, Radford University, Radford Army Base, & Volvo Auto Manufacturing.
HIGH GROWTH MARKET: New construction Cookout, Chipotle, Starbucks, Long-John’s Silver’s, Whistle Express Car Wash.
TENANTS COMMITMENT TO THIS LOCATION: Multiple tenants have recently signed new leases or have extended their leases for 5 years.
LIMITED LANDLORD RESPONSIBILITIES: Brand-new roof. Tenants reimburse for pro-rata share of expenses.
RENT GROWTH: Each tenant has rental increases in the next 12 months. Allows for higher yield in short amount of time with limited expenses. New construction retail in area leading to increased rents, giving future owner rental upside.
LEASE CONVERSIONS: Two tenants are converting from Gross to Net Leases.
PROXIMITY TO LARGE EMPLOYERS & UNIVERSITIES: Surrounded by Virginia Tech, Radford University, Radford Army Base, & Volvo Auto Manufacturing.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Building Size
17,400 SF
Building Class
B
Year Built
2005
Price
$2,123,967
Price Per SF
$122.07
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.29
Lot Size
1.37 AC
Zoning
CM1
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 22346 | Improvements Assessment | $1,195,500 |
| Land Assessment | $716,600 | Total Assessment | $1,912,100 |
PROPERTY TAXES
Parcel Number
22346
Land Assessment
$716,600
Improvements Assessment
$1,195,500
Total Assessment
$1,912,100
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Fairlawn 4 | 7335-7351 Lee Hwy
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