Pep Boys 2001 S Pleasant Valley Rd 18,600 SF 50% Leased Retail Building Winchester, VA 22601 $4,112,000 ($221.08/SF) 6.25% Cap Rate
INVESTMENT HIGHLIGHTS
- Absolute NNN Corporate Pep Boys Lease with Over 8.5 Years Remaining on Primary Term
- Early 10 Year Lease Extension Completed a Couple Years Ago
- Large Oversized 2.85 Acre Corner Lot at Signalized Intersection in Main Commercial Area
- 8% Rent Increase Occurs in 3 and 1/2 Years That Increases Cap Rate to a 6.75 Cap
- Proven, Successful Location with 12 Service Bays and Strong Store Sales
- Low Price Per SF Below Replacement Cost
EXECUTIVE SUMMARY
NNN Pro is pleased to present the exclusive listing for a Pep Boys located at 2001 S Pleasant Valley Road, Winchester, VA 22601. The site consists of roughly 18,600 rentable square feet of building space on an estimated 2.85-acre parcel of land. This Pep Boys is subject to a 15 Years Triple Net (NNN) lease, which commenced 7/30/2008. The current annual rent is $257,000 and has scheduled increases of 8% every 5 years.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Auto Repair
Building Size
18,600 SF
Building Class
B
Year Built
1997
Price
$4,112,000
Price Per SF
$221.08
Cap Rate
6.25%
NOI
$257,000
Percent Leased
50%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.15
Lot Size
2.85 AC
Zoning
CM1
Parking
78 Spaces (4.19 Spaces per 1,000 SF Leased)
Frontage
75’ on S Pleasant Valley Rd
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 253-01-25 | Improvements Assessment | $1,698,294 |
| Land Assessment | $1,816,500 | Total Assessment | $3,514,794 |
