16 Properties* / 21 leases Norfolk, Virginia
A 23 page brochure is attached explaining all 16 parcels. Page 18 relates to the parcel at 6414 Virginia Beach Boulevard., Norfolk, VA The ultimate buyer of these properties gains the opportunity to hit the ground running and be actively engaged in oversight and implementation of a proven real estate portfolio.
This cluster of occupied real estate is not a coupon clipping venture.
Besides net operating income of approximately $1,250,000.00, these closely held locally owned real estate holdings involve the full gambit of landlord responsibilities: Marketing signage and social media, interviewing prospects, lease drafting, zoning preservation, intermittent (not daily) maintenance and vendor selection and bidding for items like roofs, expansions, insurance coverage, rent collection, real estate tax payments or protests, annual IRS reporting and distribution of profits to owner(s)/investor(s).
The redacted rent roll on page iii of the brochure provides basic information with current rent rates available after signing a confidentiality agreement and basic introductions between buyer and seller.
*It is conceivable that some tenants may wish to purchase their occupied parcels, thus reducing the portfolio size and purchase price accordingly. This is an open listing paying 1% commission to agents/brokers not affiliated with the purchaser. The portfolio is on an "as-is and where-is" basis without representations except as to the existing lease documents. As of today, the portfolio will sell for $25MM (based on current NOI of $1.25MM increasing +/-3% per year). No parties are obligated until a mutually satisfactory agreement is entered into by all parties. Feel free to register your clients who have expressed an interest in having your efforts represent them in this portfolio and contact me for further information. Please do not market this to buyers of only specific parcels or to tenants who may want to purchase their occupied parcels.
For more information:
See attached brochure and
www.loopnet.com/Listing/6414-E-Virginia-Beach-Blvd-Norfolk-VA/17520677/
Lawrence Fleder
Lakebarb4@aol.com
757-623-1062 ext 213