Description
SALE-LEASEBACK OPPORTUNITY for two buildings fully renovated in 2021 located on the SW corner of S. Washington and Gibbon Streets in Old Town Alexandria. (601 & 607 S. Washington Street Alexandria, VA 22314). These beautifully restored buildings occupy the entire corner and will be sold with a NNN lease in place for The Linder Academy, the current owner.Price: $8,000,000 Sale-leasebackCap rate: 5.6%Asking Rent on leaseback: $38/SQFT with 2% annual escalation plus pass through expenses paid by tenant to include maintain, utilities and property tax. Landlord would only pay insurance.Term: Initial 10-year lease plus 10-year and 5-year lease extension optionsTwo buildings totaling 11,680SQFT on the corner of S. Washington Street & Gibbon Street in Old Town Alexandria, VA
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0BEDS
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0.21ACRES
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0BATHS
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01/2 BATHS
Description
SALE-LEASEBACK OPPORTUNITY for two buildings fully renovated in 2021 located on the SW corner of S. Washington and Gibbon Streets in Old Town Alexandria. (601 & 607 S. Washington Street Alexandria, VA 22314). These beautifully restored buildings occupy the entire corner and will be sold with a NNN lease in place for The Linder Academy, the current owner.Price: $8,000,000 Sale-leasebackCap rate: 5.6%Asking Rent on leaseback: $38/SQFT with 2% annual escalation plus pass through expenses paid by tenant to include maintain, utilities and property tax. Landlord would only pay insurance.Term: Initial 10-year lease plus 10-year and 5-year lease extension optionsTwo buildings totaling 11,680SQFT on the corner of S. Washington Street & Gibbon Street in Old Town Alexandria, VA
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