Aaron's Portfolio Virgina, North Carolina
8 Asset Portfolio
Address
Multiple Addresses in VA & NC
Virgina, North Carolina
8 Aaron's Assets
$14,200,000 | 7.92% CAP | $1,124,575 NOIThis unique portfolio offers 3 freestanding & 2 multi-tenant Aaron's locations in Virginia, as well as 3 multi-tenant assets in North Carolina. This is a diversified portfolio purchase with supportive markets and demographics as well as additional bonus NOI and ability to develop 1.39AC pad. Don't miss this rare investment opportunity.
All locations featuring brand new Aaron's Corporate leases commencing 12/1/18. All leases are for 7 years except Altavista is for 5 years.
An automatic car wash at the Altavista site provides bonus NOI (Not figured in offering) averaging $38,000 annually.
Purchasing this portfolio also provides the buyer with a large parcel 1.39AC of land to develop for additional upside potential.
The proforma in the document portal shows this purchase with full asset management services provided by 3 Properties included.
Full Offering Memorandum, Rent Rolls, Lease Abstracts, Proforma & Site Plans can be found in the document portal.
Investment Highlights
•3 Freestanding Assets & 5 Multi-Tenant Sites
• All New Aaron's Corp Leases Commencing 12/1/2018
• Upside Income on Multi Tenant with small vacancy and Car Wash Income
• More Than 91,000sf Total
• Tenants Responsible for Pro Rata Share of Insurance, Taxes and CAM - All Expenses Passed Through
• Supportive Demographics and Great Curb Appeal
Locations Snapshot
Overview
A quick look at the numbers on each property. Please see the document portal for more information & resources including: Lease Abstracts, Rent Rolls, Proforma Model and Site Plans.
| Type | Location | Square Footage | NOI | List Price |
|---|---|---|---|---|
| Single | Lynchburg, VA | 8,000 | $132,000 | $1,885,000 |
| Single | Emporia, VA | 10,000 | $132,000 | $1,885,000 |
| Single | Danville, VA | 12,000 | $132,000 | $1,885,000 |
| Multi | Roanoke Rapids, NC | 9,530 | $136,615 | $1,950,000 |
| Multi | Martinsville, VA | 11,475 | $128,316 | $1,850,000 |
| Multi | Elizabeth City, NC | 10,400 | $158,434 | $2,275,000 |
| Multi | Henderson, NC | 10,400 | $146,400 | $2,100.000 |
| Multi | Altavista, VA | 21,200 | $158,808 + $39,980 Adt'l NOI | $2,000,000 |
See Document Portal For More
Team
Brokers
Teal Henderson
3 Properties
Noah Shaffer
3 Properties
Joel Kimel
Kimel Inc.
VA License: 0225029794
Teal Henderson
813.235.5812 teal@3-properties.com
Highlights
Upside Potential, Bonus NOI & Asset Management Services
- Additional 39k Annually from On-Site Automatic Car Wash (Altavista Site)
- Asset Management Services Offered from 3 Properties (shown on Proforma)
- Opportunity to Purchase Diverse Portfolio Across 2 States with Upside Potential and Additional NOI
- Portfolio Comes With 1.39AC Parcel Available to Develop
Please contact us for more information:
- Phone
- 813.448.1234