Property Details

Pottery Barn Warehouse

Fredericksburg, VA
Property ID: 11022

Financial Summary

Asking Price $3,205,000
Cap Rate 7.00%
Net Operating Income (NOI) $224,328
Lease Type Modified Net

Offering Memorandum

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Contact

Jonathan W. Hipp
President & CEO
703.787.4725
Andrew Fallon
Executive Managing Director
703.787.4733
Richard Murphy, CCIM
Managing Director
571.449.8234

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Highlights

  • A Williams-Sonoma, Inc. lease
  • Located in the 2.5 Million SF Central Park Shopping Center along the I-95 corridor
  • New 5-year lease signed, making firm term extend through 2024; shows tenant’s initial success and commitment to the location
  • Publicly traded company with over $5 billion in annual sales
  • Signage on pylon located on Plank Road at a signalized intersection with 87,000 VPD
  • Priced below the assessed value of $3.974M
  • Likely tax benefit when the asset is re-assessed in 2020; contact broker for details
  • Lease requires the tenant to make $200,000 investment to refresh and improve storefront and interior
  • 54 miles south of Washington, DC and part of the Washington, DC MSA
  • At $97/SF the property is priced well below replacement cost

Location

1731 Carl D Silver Pkwy
Fredericksburg, VA

Traci BidingerPottery Barn Warehouse