NNN Leased Freestanding Retail Auto Service/Repair Building

Listing was updated at: 10/24/2019
Property Overview
Price/Rent PSF $ 640,000.00
Asset Type Retail
Trade Type Sale
SQ. FT. Available 2,916
Date Available 10/24/2019
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Parking 25
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Prime location w/ HWY 258 (Mercury Blvd) frontage/access between LaSalle Ave and King St. Located on the south side of W Mercury Blvd, between Seldendale Dr and Easterly Ave in Hampton. Neighboring retailers include O'Reilly Auto Parts, KFC, Popeyes, NewYork Bus, Subway, Family Dollar, Pizza Hut, AutoZone, IHOP, Walgreens, Olive Garden, Wendy's, Sherwin-Williams, CVS, and Wal Mart.

Well known & established freestanding single tenant ±2,916 SF Retail Auto Service/Repair building in a highly traveled area. Absolute triple net lease secured through December of 2027 with annual increases (and options) by an experienced operator. Initial term has 3% annual rent bumps each year. The 5-Year Renewal Option also includes steady 3% annual increases extending the lease through December of 2027. Features a functional floor plan that tenant has made substantial improvements earlier this year by licensed contractors. The HVAC age is newer, all storage tanks are above ground and up to current standards. All lights, wiring, and plumbing are new. The exterior and interior have fresh paint, the office has been remodeled. The current zoning of all surrounding properties does not allow for transmission work; however, this property has a special CUP from 1989 which has been grandfathered in.