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Automotive Highway Properties Portfolio 15 Retail Properties Offered at $26,000,000 in Norfolk, VA
INVESTMENT HIGHLIGHTS
- Portfolio tenants include: Avis Car Rental, Leslie’s Pool Supplies, car and truck repairs, car stereo installation, and used car dealerships.
- Close to the Norfolk International Airport (“ORF”) located on major thoroughfares.
- Many of the parcels have great highway exposure to attract automobile dealerships and related service facilities clientele.
- Excellent signage in place on most properties for high visibility.
EXECUTIVE SUMMARY
The ultimate buyer of these properties gains the opportunity to hit the ground running and be actively engaged in oversight and implementation of a proven real estate portfolio generating net operating income of approximately $1,300,000.00. The redacted rent roll on page iii of the brochure provides basic information with current rent rates available after signing a confidentiality agreement and basic introductions between buyer and seller. A 23 page brochure is attached explaining all 16 parcels.
It is conceivable that some tenants may wish to purchase their occupied parcels, thus reducing the portfolio size and purchase price accordingly. This is an open listing paying 1% commission to agents/brokers who are not affiliates of the purchaser. The portfolio is on an "as-is and where-is" basis without representations except as to the existing lease documents. As of today, the portfolio will sell for $26MM (based on current NOI of $1.3MM increasing +/-3% per year). No parties are obligated until a mutually satisfactory agreement is entered into by all parties. Feel free to register your clients who have expressed an interest in having your efforts represent them in this portfolio and contact me for further information.
www.Loopnet.com.Listing/Automotive-Highway-Properties-Portfolio/17627901/
It is conceivable that some tenants may wish to purchase their occupied parcels, thus reducing the portfolio size and purchase price accordingly. This is an open listing paying 1% commission to agents/brokers who are not affiliates of the purchaser. The portfolio is on an "as-is and where-is" basis without representations except as to the existing lease documents. As of today, the portfolio will sell for $26MM (based on current NOI of $1.3MM increasing +/-3% per year). No parties are obligated until a mutually satisfactory agreement is entered into by all parties. Feel free to register your clients who have expressed an interest in having your efforts represent them in this portfolio and contact me for further information.
www.Loopnet.com.Listing/Automotive-Highway-Properties-Portfolio/17627901/
TAXES & OPERATING EXPENSES (ACTUAL - 2023) |
ANNUAL |
|---|---|
| Gross Rental Income |
-
|
| Other Income |
-
|
| Vacancy Loss |
-
|
| Effective Gross Income |
-
|
| Net Operating Income |
$1,300,000
|
TAXES & OPERATING EXPENSES (ACTUAL - 2023)
| Gross Rental Income | |
|---|---|
| Annual | - |
| Other Income | |
|---|---|
| Annual | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Net Operating Income | |
|---|---|
| Annual | $1,300,000 |
PROPERTY FACTS
| Price | $26,000,000 | Number of Properties | 15 |
| Price / SF | $300.58 / SF | Individually For Sale | 2 |
| Cap Rate | 5% | Total Building Size | 86,500 SF |
| Sale Type | Investment | Total Land Area | 13.28 AC |
| Status | Active |
| Price | $26,000,000 |
| Price / SF | $300.58 / SF |
| Cap Rate | 5% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 15 |
| Individually For Sale | 2 |
| Total Building Size | 86,500 SF |
| Total Land Area | 13.28 AC |
PROPERTIES
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Automotive Highway Properties Portfolio
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