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7.59% Cap Rate Seller Financing Credit Retail 12266 Jefferson Ave
9,728 SF 100% Leased Retail Building Newport News, VA 23602 $5,039,000 ($518/SF) 7.59% Cap Rate
Investment Highlights
- Great Location On Jefferson Avenue as an Outparcel to The Patrick Henry Mall in the Heart of Newport News Retail Corridor, Easy Access
- 216 Feet of Frontage on Jefferson Avenue with an Average Daily Traffic Count of 49,000+ Cars Per Day
- Brand New Lease Signed for 100% Occupancy
- Credit Tenants are NNN Leases With Annual Increases and Multiple Options.
- Easy Access to the I-64 with Major National Retailers Adjacent
- Vitamin Shoppe and T-Mobile both extend leases for five more years and add options
Executive Summary
Built in 2004, the property is neighboring The Patrick Henry Mall in the City of Newport News, VA. Tenants include T-Mobile, Vitamin Shoppe, Urgent Vet and Great Clips. Vitamin Shoppe and T-Mobile have been in the building since constructed (2004) and have strong financials backed by a consistent customer base supporting long-term tenancy . 12266 Jefferson Ave takes advantage of the huge marketing budget of the Patrick Henry Mall that draws attention to the property from its location.
Newport News is home to the headquarters for Canon, Virginia and Jefferson Labs, Fort Eustis, Langley Air-force base, and the U.S. Department of Energy Laboratories. The local community includes commercial corridors, industrial areas, and an array of residential communities. The Patrick Henry Mall is the largest mall on the Virginia Peninsula with more than 120 specialty stores.
Data Room Click Here to Access
- Offering Memorandum
Financial Summary (Pro forma - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro forma - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Amenities
- 24 Hour Access
- Bus Line
- Pylon Sign
- Signage
- Accent Lighting
MAJOR TENANTS Click Here to Access
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease Type
- Lease End
-
- Services
-
99,999 SF
-
$9.99
-
Lorem Ipsum
-
Jan 0000
Great Clips is a 100% franchised company with hair salons across the U.S. and Canada. They pride themselves on making it easy for customers to get a great haircut at a great price at a time and place that’s convenient for them. That’s why they’re open evenings and weekends. They’ve also made it easy for customers to make Great Clips their hair salon of choice with their Online Check-In and Clip Notes®. From day one—and throughout the decades Great Clips has been in business—Great Clips has created a host of innovations to make it faster, easier, and more convenient for you to get your hair cut.
-
- Retailer
-
99,999 SF
-
$9.99
-
Lorem Ipsum
-
Jan 0000
T-Mobile U.S. Inc. (NASDAQ: TMUS) is America’s supercharged Un-carrier, delivering an advanced 4G LTE and transformative nationwide 5G network that will offer reliable connectivity for all. T-Mobile’s customers benefit from its unmatched combination of value and quality, unwavering obsession with offering them the best possible service experience, and undisputable drive for disruption that creates competition and innovation in wireless and beyond. Based in Bellevue, Wash., T-Mobile provides services through its subsidiaries and operates its flagship brands, T-Mobile, Metro by T-Mobile, and Sprint.
-
- Retailer
-
99,999 SF
-
$9.99
-
Lorem Ipsum
-
Jan 0000
Since 1977, The Vitamin Shoppe® has been dedicated to helping a customer become their best self, however they define it. They have got vitamins, naturally—but they are so much more! At VitaminShoppe.com, their app, and in 700+ stores across the country, they’ll find a huge assortment of high-quality, cutting-edge supplements, proteins, healthy weight support, aromatherapy, herbs, superfoods, natural beauty products, and more.
- Urgent Vet
- Services
-
99,999 SF
-
$9.99
-
Lorem Ipsum
-
Jan 0000
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease Type | Lease End | |
|
|
Services | 99,999 SF | $9.99 | Lorem Ipsum | Jan 0000 | |
|
|
Retailer | 99,999 SF | $9.99 | Lorem Ipsum | Jan 0000 | |
|
|
Retailer | 99,999 SF | $9.99 | Lorem Ipsum | Jan 0000 | |
| Urgent Vet | Services | 99,999 SF | $9.99 | Lorem Ipsum | Jan 0000 |
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 141.00-01-16 | Total Assessment | $5,031,900 (2023) |
| Land Assessment | $1,308,000 (2023) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $3,723,900 (2023) | Tax Year | 2024 |
PROPERTY TAXES
-
Robert Clippinger -
Clippinger Investment Properties
Presented by
7.59% Cap Rate Seller Financing Credit Retail | 12266 Jefferson Ave
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