KW COMMERCIAL
559.302.8698 JARED ENNISSenior Commercial Associate0 559.302.8698C [email protected] #01945284
KEVIN LANDCommercial DirectorO 559.359.4035C [email protected] #01516541
NNN Leased Freestanding Retail Auto Service/Repair Building
OFFERING MEMORANDUM
PRESENTED BY:
HAMPTON, VA
OFFERING MEMORANDUM
LISTED BY:
STAN STANFIELDBroker of RecordVA Lic # 226026959
Executive Summary
NNN LEASED FREESTANDING RETAIL AUTO SERVICE/REPAIR BUILDING |
PROPERTY FEATURES5 Year Firm Term + 5 Year Option
Prime Investment: Freestanding Retail Building
Absolute NNN Lease w/ Healthy Annual Increases
Express Lube Operating for 29+ Years at This Location
±2,916 SF Building: Significantly Improved on Tenants Dime
Below Market Lease Rate W/ Added Value/Appreciation
Great Exposure with 110' Frontage on W Mercury Blvd
Surrounded with Quality National Tenants - 47,714 Cars/Day
Great Access & Visibility
Unmatched Level of Consumer Traffic
Existing Office, Lifts, & Rollup Doors - Ample Private Parking
SALE PRICE: $640,000
YEAR 1 CAP RATE: 5.77%
TERM 1 CAP: 5.94% Average
RENEWAL TERM CAP: 6.79% Average
LOT SIZE: 0.64 Acres
BUILDING SIZE: 2,916 SF
YEAR BUILT: 1989
RENOVATED: 2018 (By Tenant)
ZONING: C-2
MARKET: North Hampton
SUB MARKET: Highway 258 Retail
CROSS STREETS:S Seldendale Drive & Easterly
Avenue
TRAFFIC COUNT: 47,714
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PROPERTY OVERVIEWWell known & established freestanding single tenant ±2,916SF Retail Auto Service/Repair building in a highly traveledarea. Absolute triple net lease secured through December of2022 with annual increases (and options) by an experiencedoperator. Initial term has 3% annual rent bumps each year.The 5-Year Renewal Option also includes steady 3% annualincreases extending the lease through December of 2027.Features a functional floor plan that tenant has madesubstantial improvements earlier this year by licensedcontractors. The HVAC age is newer, all storage tanks areabove ground and up to current standards. All lights, wiring,and plumbing are new. The exterior and interior have freshpaint, the office has been remodeled. The current zoning ofall surrounding properties does not allow for transmissionwork; however, this property has a special CUP from 1989which has been grandfathered in.
LOCATION OVERVIEWPrime location w/ HWY 258 (Mercury Blvd) frontage/accessbetween LaSalle Ave and King St. Located on the south sideof W Mercury Blvd, between Seldendale Dr and Easterly Avein Hampton. Neighboring retailers include O'Reilly AutoParts, KFC, Popeyes, NewYork Bus, Subway, Family Dollar,Pizza Hut, AutoZone, IHOP, Walgreens, Olive Garden,Wendy's, Sherwin-Williams, CVS, and Wal Mart.
TENANT PROFILEAdvanced Auto Transmission Center has been Hampton’sleading automatic and manual/standard transmission repairspecialist providing top-quality workmanship & the latestdiagnostic equipment. Unlike other Hampton transmissionshops/dealerships, they have an in-house transmissionrebuild department of highly experienced techniciansaveraging 25 years of rebuilding experience servicingChesapeake, Suffolk, Newport News, Portsmouth,Williamsburg, Richmond, Caroline, Ashland, Fredericksburg,Stafford, Spotsylvania, Fairfax, Maryland, and Norfolk metroarea. They have uniquely raised the bar by offering acomprehensive warranty for three years or 100,000 miles!More info @ www.AdvancedAutoTransmission.com
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Property Description
NNN LEASED FREESTANDING RETAIL AUTO SERVICE/REPAIR BUILDING |
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Additional Photos
NNN LEASED FREESTANDING RETAIL AUTO SERVICE/REPAIR BUILDING |
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Additional Photos
NNN LEASED FREESTANDING RETAIL AUTO SERVICE/REPAIR BUILDING |
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Additional Photos
NNN LEASED FREESTANDING RETAIL AUTO SERVICE/REPAIR BUILDING |
Retailer Map - 205 W Mercury VA
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INVESTMENT OVERVIEW
Price $640,000
Price per SF $219.48
Initial CAP Rate 5.8%
Total Return (yr 1) $36,900
OPERATING DATA
Gross Income $36,900
Operating Expenses $0
Net Operating Income $36,900
Pre-Tax Cash Flow $36,900
FINANCING DATA
Down Payment $640,000
Loan Amount -
Debt Service -
Debt Service Monthly -
Principal Reduction (yr 1) -
Financial Summary
NNN LEASED FREESTANDING RETAIL AUTO SERVICE/REPAIR BUILDING |
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205 W Mercury Blvd
Regional Map
NNN LEASED FREESTANDING RETAIL AUTO SERVICE/REPAIR BUILDING |
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Location Maps
NNN LEASED FREESTANDING RETAIL AUTO SERVICE/REPAIR BUILDING |
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* Demographic data derived from 2010 US Census
Demographics Map
NNN LEASED FREESTANDING RETAIL AUTO SERVICE/REPAIR BUILDING |
ETHNICITY 1 MILE 3 MILES 5 MILES
% HISPANIC 4.2% 4.5% 4.2%
RACE 1 MILE 3 MILES 5 MILES
% WHITE 30.2% 39.1% 41.6%
% BLACK 63.4% 54.9% 52.4%
% ASIAN 2.4% 2.2% 2.1%
% HAWAIIAN 0.0% 0.1% 0.1%
% INDIAN 1.6% 0.6% 0.5%
% OTHER 0.9% 1.2% 1.4%
POPULATION 1 MILE 3 MILES 5 MILES
TOTAL POPULATION 10,130 81,133 154,888
MEDIAN AGE 36.2 35.1 36.3
MEDIAN AGE (MALE) 34.7 32.9 33.9
MEDIAN AGE (FEMALE) 37.0 36.4 37.7
HOUSEHOLDS & INCOME 1 MILE 3 MILES 5 MILES
TOTAL HOUSEHOLDS 4,160 30,879 59,260
# OF PERSONS PER HH 2.4 2.6 2.6
AVERAGE HH INCOME $46,771 $54,905 $56,845
AVERAGE HOUSE VALUE $203,813 $220,419 $221,738
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KW COMMERCIAL
559.302.8698
Confidentiality & Disclaimer
JARED ENNISSenior Commercial Associate0 559.302.8698C [email protected] #01945284
KEVIN LANDCommercial DirectorO 559.359.4035C [email protected] #01516541
All materials and information received or derived from KW Commercial its directors, officers, agents, advisors, affiliates and/or any third partysources are provided without representation or warranty as to completeness , veracity, or accuracy, condition of the property, compliance orlack of compliance with applicable governmental requirements, developability or suitability, financial performance of the property, projectedfinancial performance of the property for any party’s intended use or any and all other matters.
Neither KW Commercial its directors, officers, agents, advisors, or affiliates makes any representation or warranty, express or implied, as toaccuracy or completeness of the materials or information provided, derived, or received. Materials and information from any source, whetherwritten or verbal, that may be furnished for review are not a substitute for a party’s active conduct of its own due diligence to determine theseand other matters of significance to such party. KW Commercial will not investigate or verify any such matters or conduct due diligence for aparty unless otherwise agreed in writing.
EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE.
Any party contemplating or under contract or in escrow for a transaction is urged to verify all information and to conduct their own inspectionsand investigations including through appropriate third party independent professionals selected by such party. All financial data should beverified by the party including by obtaining and reading applicable documents and reports and consulting appropriate independentprofessionals. KW Commercial makes no warranties and/or representations regarding the veracity, completeness, or relevance of any financialdata or assumptions. KW Commercial does not serve as a financial advisor to any party regarding any proposed transaction.
All data and assumptions regarding financial performance, including that used for financial modeling purposes, may differ from actual data orperformance. Any estimates of market rents and/or projected rents that may be provided to a party do not necessarily mean that rents can beestablished at or increased to that level. Parties must evaluate any applicable contractual and governmental limitations as well as marketconditions,vacancy factors and other issues in order to determine rents from or for the property. Legal questions should be discussed by theparty with an attorney. Tax questions should be discussed by the party with a certified public accountant or tax attorney. Title questions shouldbe discussed by the party with a title officer or attorney. Questions regarding the condition of the property and whether the property complieswith applicable governmental requirements should be discussed by the party with appropriate engineers, architects, contractors, otherconsultants and governmental agencies. All properties and services are marketed by KW Commercial Central California in compliance with allapplicable fair housing and equal opportunity laws.
We obtained the information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty orrepresentation about it. It is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, orwithdrawal without notice. We include projections, opinions, assumptions or estimates for example only, and they may not represent current or future performance ofthe property. You and your tax and legal advisors should conduct your own investigation of the property and transaction.
OFFERING MEMORANDUM
PRESENTED BY:
HAMPTON, VA
