Description
SALE-LEASEBACK OPPORTUNITY for two fully 2021 renovated buildings located on the SW corner of S. Washington and Gibbon Streets in Old Town Alexandria (601 & 607 S. Washington Street). These beautifully restored buildings occupy the entire corner and will be sold with a NNN lease in place for the current owner - The Linder Academy. Price: $8,000,000 Sale-leasebackCap rate: 6.56%Asking Rent on leaseback: $44.95/SQFT (i.e. 43,750/month) with 2% annual escalation plus pass through expenses paid by tenant to include maintenance, utilities and property tax. Landlord to pay insurance.Term: Initial 10-year lease plus 10-year and 5-year lease extension optionsTwo extraordinary buildings totaling 11,680 SQ FT 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 fully 2021 renovated buildings located on the SW corner of S. Washington and Gibbon Streets in Old Town Alexandria (601 & 607 S. Washington Street). These beautifully restored buildings occupy the entire corner and will be sold with a NNN lease in place for the current owner - The Linder Academy. Price: $8,000,000 Sale-leasebackCap rate: 6.56%Asking Rent on leaseback: $44.95/SQFT (i.e. 43,750/month) with 2% annual escalation plus pass through expenses paid by tenant to include maintenance, utilities and property tax. Landlord to pay insurance.Term: Initial 10-year lease plus 10-year and 5-year lease extension optionsTwo extraordinary buildings totaling 11,680 SQ FT on the corner of S. Washington Street & Gibbon Street in Old Town Alexandria, VA
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