Description
SALE-LEASEBACK OPPORTUNITY for two fully 2021 renovated buildings located on the SW corner of S. Washington and Gibbon Streets in Old Town Alexandria (601 & 607 S. Washington Street). These beautifully restored buildings occupy the entire corner and will be sold with a NNN lease in place for the current owner - The Linder Academy.
Price: $7,500,000 Sale-leaseback
Cap rate: 6.5%
Asking Rent on leaseback: $41.76/SQFT (i.e. 40,650/month) with 2% annual escalation plus pass through expenses paid by tenant to include maintenance, utilities, property tax and insurance. A true NNN lease
Term: Initial 10-year lease plus 10-year and 5-year lease extension options (with preference for longer term)
Two extraordinary buildings totaling 11,680 SQ FT on the corner of S. Washington Street & Gibbon Street in Old Town Alexandria, VA
Location
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Courtesy of: Yeonas & Shafran Real Estate, LLC Listing information provided courtesy of the Bright MLS. IDX information is provided exclusively for consumers' personal, non-commercial use, and it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable, but is not guaranteed accurate by the MLS. Updated: 28th September, 2022 9:22 PM (UTC)
