220 Perry ST Petersburg, VA 23803

This single-tenant, Triple Net Lease investment opportunity is a chance for an investor to buy a strong cash flow building with market annual increases. The current lease with Pre-Con, a subcontractor for Honeywell International, Inc., has been in place for over 12 years. Back in the mid-1980s, this two-story building was repurposed for the current manufacturing use. The building has two floors of 20,000 square feet and a freight elevator. The property contains 1.719 acres just off the premier thoroughfare in Petersburg, US Highway 460. The industrial market in the Richmond-Petersburg area is extremely strong as demand exceeds supply by a significant margin. Rental rates have risen considerably but remain much more reasonable compared to the Northern Virginia market, providing a long-term strategic advantage. Petersburg sits at the intersection of I-95 and I-85, making it a distribution hub for the entire East Coast. 220 Perry Street has a Triple Net Lease structure with the tenant responsible for all utilities, real estate taxes and building insurance along with all maintenance of the building.