$5,300,000
3405 Commerce RD Richmond, VA 23234
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$5,300,000
Est. payment /mo
42,628 SqFt
UPDATED:
09/30/2024 05:06 PM
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 42,628 sqft
Price per Sqft $124
MLS Listing ID 2419081
HOA Y/N No
Year Built 1900
Lot Size 3.460 Acres
Acres 3.46
Property Description
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.
Location
State VA
County Richmond City
Area 50 - Richmond
Interior
Cooling Central Air
Exterior
Roof Type Flat
Topography Level
Building
Lot Description Level
Building Description Brick, No Elevators,Single-Tenant
Story 1
Sewer Public Sewer
Water Public
Level or Stories One
Structure Type Brick
Others
Tax ID S008-0822-072
Ownership ,Investment
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Listed by One South Commercial LLC
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