3405 Commerce Rd, Richmond, VA 23234
41,396 SF | Industrial Building | Richmond, VA 23234 | $5,300,000 ($128/SF)
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $5,300,000
- Property Type
-
Industrial
- Price / Square Foot
- $128
Listing Contacts
Ken Campbell
Verified Profile
Tom Rosman
Verified Profile
- Property Info
Property Overview
This single-tenant, long term lease investment opportunity is a chance for an investor to buy a strong cash flow building with market annual increases. The current lease with Git The Trucking Commercial Tires, a commercial tire installation and road service company, has been in place for over a year. Prior to the current tenant, the conditioned one-story building was previously used for printing and direct mail. The highly 1-95 visible building is approximately 41, 396 sf and has three (3) loading docks, one drive-in door, two (2) levelers and 3 phase/240 V/ 3000-amp service. The sizable property contains approximately 177 parking spaces within the 3.46-acre parcel.
The industrial market in the Richmond area is extremely strong as demand remains very healthy. Rental rates have grown significantly in recent prior years and are still extremely stout. Richmond is extremely well located at the intersection of 1-95 and 1- 64, making it an excellent distribution location for the entire East Coast. 3405 Commerce has a Triple Net Lease structure with tenant responsible for all real estate taxes, building insurance, utilities and maintenance. The buyer of this property will be able to secure a robust return with very little
management headaches.
The industrial market in the Richmond area is extremely strong as demand remains very healthy. Rental rates have grown significantly in recent prior years and are still extremely stout. Richmond is extremely well located at the intersection of 1-95 and 1- 64, making it an excellent distribution location for the entire East Coast. 3405 Commerce has a Triple Net Lease structure with tenant responsible for all real estate taxes, building insurance, utilities and maintenance. The buyer of this property will be able to secure a robust return with very little
management headaches.
Property Details
- Class
- B
- Year Built
- 1962
- Stories
- 1
- Property Subtype
- Distribution
- Lot Size (sq. ft)
- 150,718 SF
Highlights
- Market cap rate
- Phenomonal location fronting I-95
- 42,628 SF
- Strong local tenant
- New roof- 20 year warranty
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