12980 Fair Lakes Shopping Ctr | Fairfax, VA 22033
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- LoopNet Team
12980 Fair Lakes Shopping Ctr
Fairfax, VA 22033
Olive Garden/ 12 Yr Lease / BBB Credit · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Olive Garden is an investment grade credit tenant - Darden Restaurants (S&P rated BBB)
- Growing income stream with 1.5% annual rental increases through initial term and options
- Over $50,000 NOI growth over the initial lease term
- Long term corporate lease with over 12 years remaining provides investor with security and stability
- Rare Fair Market Value options in the beginning of the 4th and 5th option periods
- Current rent below market rent ($32 PSF/YR) compared to similar STNL Retail pads in the trade area
PROPERTY FACTS
Property Type
Retail
Property Subtype
Building Size
9,088 SF
Building Class
B
Year Built
1994
Tenancy
Single
Building Height
1 Story
Building FAR
0.10
Lot Size
2.12 AC
Zoning
403
Parking
60 Spaces (6.6 Spaces per 1,000 SF Leased)
Frontage
109’ on Fair Lakes Shopping Ctr
AMENITIES
- Dedicated Turn Lane
- Signalized Intersection
PROPERTY TAXES
| Parcel Number | 0552-04-0015 | Improvements Assessment | $3,471,280 |
| Land Assessment | $2,121,980 | Total Assessment | $5,593,260 |
PROPERTY TAXES
Parcel Number
0552-04-0015
Land Assessment
$2,121,980
Improvements Assessment
$3,471,280
Total Assessment
$5,593,260
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