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- LoopNet Team
4100 W Clay St
Richmond, VA 23230
Property For Lease
Highlights
- Opening Offer is $30,000 - Total savings potential over the life of the lease - $202,541.18 - $313,241.18
- Current Rent $5.53 per foot with 7 1/2 years remaining on the lease. Assumable Undervalued Scott's Addition Lease - US Bankruptcy Ordered Sale
Property Overview
Assumption of Under Market Scott's Addition Lease - Starting offer is $30,000 Property Tours Scheduled Wed. May 4th & 11th Feb 18th 2-5 PM Sale is subject to US Bankruptcy Court Approval Lease Available For Review Upon Request & Signing of Trustee Approved Non-Disclosure Agreement located under Documents Tab. Buyers have the unique opportunity to bid on the assumption of this undervalued Scott's Addition Lease. Opening offer is $30,000 and the potential savings over the life of the lease are calculated below: Savings Calculations below: Market Rent for Warehouse/Office Flex Space in Scott's Addition currently ranges from $9 - $11 per square foot. (See Lease Analysis Report) Current Rent for 4100 W Clay St is $5.53 per square foot until 12/31/2022. Rent will increase to $5.65 per square foot in 2023, and increases to $5.78 for 2024. An additional renewal and extension is available for 2025 - 2029. Rent decreases to $4.90 per square foot in 2025, increases to 5.03 per square foot in 2026, increases to $5.16 per square foot in 2027, increases to $5.30 per square foot in 2028, and increases to $5.44 per square foot in 2029 for the remainder of the lease which expires on 12/31/2029. Savings: Remaining 6 months 2022: $12,774.50 - $20,157.50 2023: $24,666.84 - $39,432.84 2024: $23,754.84 - $38,520.84 2025: $30,261.00 - $45,027.00 2026: $29,295.00 - $44,061.00 2027: $28,299.00 - $43,065.00 2028: $27,273.00 - $42,039.00 2029: $26,217.00 - $40,938.00 Total savings potential over the life of the lease - $202,541.18 - $313,241.18
PROPERTY FACTS
| Property Type | Industrial | Rentable Building Area | 7,383 SF |
| Property Subtype | Warehouse | Year Built | 1965 |
| Property Type | Industrial |
| Property Subtype | Warehouse |
| Rentable Building Area | 7,383 SF |
| Year Built | 1965 |
