Freestanding Facility Wholesale/ Manufacturing/ Distribution • Address: 810 Bluecrab Road Newport News, Virginia 23606 John Lee, SIOR, President OWNER/AGENT 5520 Greenwich Rd, Suite 207 Virginia Beach, VA 23462 Phone: 757-490-3311 [email protected]www.johnleeassociates.com Investment Property For Sale SRS DISTRIBUTION, INC. FACILITY OYSTER POINT - NEWPORT NEWS, VA SRS Distribution, Inc. Wholesale & Distribution Facility Bird’s-Eye View 6.85% Cap 32,715 SF on 3.93 acres Investment Highlights • Extensive Renovations/ Building Improvements Performed in 2018 (see following pages for more detail) • NNN Lease (Landlord responsible for building structure and building systems) • + 5.5 years remaining on Original Lease Term • Multiple, Multiyear Lease Renewal Options • Annual rental increases on remaining original lease term and exercised lease renewals • 6.85% capitalization rate based off remaining original lease term blended rental rate • Sales Price: $3,250,000 The information presented in this document was provided by sources believed reliable. Although we believe this information to be accurate, we make no guarantee, representations or warranties, expressed or implied, as to the accuracy of the information. References to sizes and dimensions are approximate. Said information is subject to errors, omissions or changes. Tenant: SRS Distribution, Inc. www.srsdistribution.com
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Freestanding Facility Wholesale/ Manufacturing/ Distribution
BUILDING TYPE: Wholesale Distribution Warehouse Facility SIZE: 32,715 ± SF GROUND: 3.93 Acres (Lot dimensions: 290.15’ x 589.45’) DATE OF CONSTRUCTION: 1986 OFFICE: 2,550 ± SF includes large open area along window line, private offices, driver’s lounge with separate restrooms; electrical outlets in open floor area. WAREHOUSE: 30,165 ± SF; warehouse includes a 675 ± SF office/break room area with full kitchen and bath (with shower) LOADING: Grade level doors: Six (6) opposing over-head doors (four doors 12’ x 14’ and two doors 14’ x 14’); ample room for portable dock
Large covered overhangs (sprinklered) on both sides of building. Each over
hang approx. 215' x 15’ (3,225 SF) and 17' 6" clear.
COLUMN SPACING: 20’ x 48’ & 20’ x 54’ CEILING HEIGHT: Up to 32’ (17’ 6” clear under side canopies) ELECTRICAL: 400 amp, 3-phase LOCATION: Prime location, in Oyster Point Business Park, around the corner from City Center. Less than five miles from Newport News/Williamsburg International Airport and less than 25 miles from Norfolk International Airport. ZONING: C-5; Oyster Point Business / Manufacturing Newport News Enterprise Zone #3-A, Newport News Opportunity Zone, New Market Tax Credit Eligible Census Tracts, Patrick Henry Tourism Zone The City of Newport News granted SRS Distribution, Inc. conditional use permit number CU-2018-0001 (March 27, 2018), for the purpose of operating a building supplies wholesale and distribution warehouse. OTHER:
Cement pad surrounds building, providing drive around capability. Truck scale on site Large ± 38,000 SF drop lot Located on HRBT bus line
810 Bluecrab Road, Newport News, Virginia 23606
Recent Building Improvements
Building Renovations/Improvements Performed in 2018:
• Total Office, Showroom, and Restroom Renovation
• Upgraded LED Lighting (Interior and Exterior).
• Complete Fencing of the Property (Added Security and Privacy).
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