Marcus & Millichap is proud to present this absolute net-leased childcare facility in Virginia Beach, Virginia. Virginia Beach is the most populous city in Virginia, located on the Atlantic Ocean at the mouth of the Chesapeake Bay. The subject property at 6048 Providence Road is well located next to the major intersection of Indian River Road and Providence Road which have a combined traffic count of over 50,000 cars per day. The building resides just off Interstate 64 and is next to Woodstock Elementary School. Additionally, the area boasts strong demographics with a growing population of 296,000 within five miles. This asset is not only in a premium location, but offers favorable lease terms. There are currently six years remaining on the base term with generous increases every five years. There are two five-year options; a new investor can be confident the tenant will renew. This is an ideal investment for any investor looking for a stable asset with a strong return. Sales Info: ■ Cap rate: 8.25% ■ NOI: $102,736 Location Description: This absolute net-leased childcare facility is in Virginia Beach, Virginia. Highlights: ■ Absolute-Net Lease - Corporate Guarantee ■ Strong Metro Metropolitan Market ■ Growing Population of 296,000 People Within Five Miles ■ Combined Traffic Counts of 50,000 Cars per Day ■ Resides next to Elementary School and Major Highway « show less
Marcus & Millichap is proud to present this absolute net-leased childcare facility in Virginia Beach, Virginia. Virginia Beach is the most populous... show more »
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