Take 5 Oil Change 1557 General Booth Blvd
1,418 SF Retail Building Virginia Beach, VA 23454 $1,217,391 ($859/SF) 5.75% Cap Rate
INVESTMENT HIGHLIGHTS
- Long-Term 20-Year NNN Sale-Leaseback
- Absolute Triple Net (NNN) Lease
- Strong Corporate Guarantee
- Attractive Annual Rental Increases
EXECUTIVE SUMMARY
NNN Pro is pleased to present the exclusive listing for a Take 5 Oil Change located at 1557 General Booth Blvd, Virginia Beach, VA 23454. The site consists of roughly 1,418 rentable square feet of building space on an estimated 0.41-acre parcel of land. This Take 5 Oil Change will be subject to a 20-year Triple Net (NNN) lease which will commence upon close of escrow. The annual rent will be $70,000 and have scheduled increases of 1.50% annually.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Auto Repair
Building Size
1,418 SF
Building Class
C
Year Built
1994
Price
$1,217,391
Price Per SF
$859
Cap Rate
5.75%
NOI
$70,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.08
Lot Size
0.41 AC
Opportunity Zone
Yes
Zoning
B2 - Dense retail
Parking
9 Spaces (6.35 Spaces per 1,000 SF Leased)
AMENITIES
- Dedicated Turn Lane
- Pylon Sign
- Signage
Walk Score®
Very Walkable (73)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 2415-55-2820 | Improvements Assessment | $194,300 |
| Land Assessment | $542,900 | Total Assessment | $737,200 |
