$6,750,000

11085 Lee Hwy

FAIRFAX VA, 22030

Description

GREAT VALUE-ADD OPPORTUNITY! This sale constituents two parts: a stable income-generating retail property and future residential development land. The retail component contains a stand along 4,960 Sq Ft building, fully leased to BBB rating tenant, NextDay Blinds, who has been in this location for 20 years. The tenant signed a new 5-year extend lease term starting on February 1, 2020. In addition, there is a 1.13-acre vacant land adjacent to the retail property. The vacant land currently zoned commercial zone, however, it offers a potential of the 13-large luxury townhouse development, a conceptual plan approved. Furthermore, nestled in the center of Fairfax, a suburban expanse of Washington DC metro region, the location is a true oasis, unique and brimming with vitality that recently has been recognized by Forbes as one of the top places to live in the nation.- Great Value-add opportunity- Single-tenant absolute NNN lease investment opportunity - Nextday Blinds- Favorable passive Income - Zero Landlord Responsibilities - New 5-year lease term & 1-5 Yr option- Attractive 3% annual rental increase- Proposed Residential development possibility- Dense infill location - Positioned just off intersection I-66, R50, I-29- Surrounding Traffic Generators - Walmart, Lowes, McDonalds, Wendy's- Densely populated Area

Details

MLS#VAFC119070
Listing TypeFor Sale
StyleIndustrial
Sub-TypeResale
StatusActive
Year1964
Days On Site208

Features

SQ Feet5,250
Story(s)0
Units1
ZoningCR

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Area Information

StateVA
CityFAIRFAX
Zip Code22030
Listing VS Median (in 22030)
Price:
$6,750,000
low | high
Med:
$535,000
100% of Average
SqFt:
5,250
low | high
Med:
2,064
100% of Average
$ / SqFt:
$1,286
low | high
Med:
$259
100% of Average
On Site:
208
low | high
Med:
3
100% of Average
Listing Updated: 05/31/2020
MLS Number: VAFC119070
Listing Provided By:
Eileen H Xu  of  Alpha Royale Commercial Group
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