$24,000,000 Portfolio Automotive highway properties in southeastern Virgina

3809

Property ID

31,000 SqFt

Size

Description

16 Properties* / 21 leases
Norfolk, Virginia

Your company should jump on this $24MM opportunity.
Net operating income of approximately $1,200,000.00.

The redacted rent roll on page iii provides basic information with current rent rates available after signing a confidentiality agreement and basic introductions to each other.

*It is conceivable that some tenants may wish to purchase their occupied parcels, thus reducing the portfolio size and purchase price accordingly.

History:

Alan Fleder (1914 – 2003) and his brother, Harry (1919 – 2000), started their business careers as furniture merchants in 1945 in downtown Norfolk , Virginia . As the business grew and the post World War II population expanded into suburbs they acquired small suburban locations with the intention of opening additional furniture stores beyond the 3 downtown stores. Many of these parcels had great highway exposure and attracted automobile dealerships and related service facilities. Proximity to the Norfolk International Airport (“ORF”) was conducive to national car rental brands.

Today the users include car and truck repair, car stereo, used car dealerships, Avis car rental,
transmission repair and Leslie’s Poolmart.

For more information:
See attached brochure and
www.loopnet.com/Listing/6414-E-Virginia-Beach-Blvd-Norfolk-VA/16955297/

To Brokers:

Attached is a brochure of approximately 23 pages with specifics of 16 developed parcels and their 21 rental leases. This is an open listing paying 1% commission to agents/brokers not affiliated with the purchaser. The portfolio is on an “as-is and where-is” basis without representations except as to the existing lease documents. As of today, the portfolio will sell for $24MM (based on current NOI of $1.2MM increasing +3% per year) however, it is conceivable that some tenants may wish to purchase their occupied parcels, thus reducing the portfolio size and purchase price accordingly. No parties are obligated until a mutually satisfactory agreement is entered into by all parties. Feel free to register your clients who have expressed an interest in having your efforts represent them in this portfolio and contact me for further information. Please do not market this to buyers of only specific parcels or to tenants who may want to purchase their occupied parcels.
www.loopnet.com/Listing/6414-E-Virginia-Beach-Blvd-Norfolk-VA/16955297/

Address

Address: 6414 East Virginia Beach Boulevard, Norfolk, VA, USA
  • Province / State: Virginia
  • City / Town: Norfolk
  • Postal code / ZIP: 23502
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  • Property ID 3809
  • Price $24,000,000
  • Property Type Retail
  • Property status For Sale
  • Size 31,000 SqFt
  • Land area 11.00 Acres

Map View

Contact

Lawrence Fleder

Property Seller
lakebarb4@aol.com
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