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507-519 Maple Ave W - Village Green Shopping Center 11,445 SF Retail Condo Unit Offered at $8,515,112 CAD in Vienna, VA 22180
INVESTMENT HIGHLIGHTS
- The Property is located in the center of Vienna on Maple Ave which has an average of 30,000 vehicles pass by per day.
- 100% leased to 8 tenants with personal guarantees and NNN style leases.
- Minimal to no Landlord responsibilities.
- The location is in close proximity to Tysons Corner, Merrifield, and Oakton and commands one of the highest medium household incomes in Fairfax.
- Condo association manages all common area property maintenance.
- Tenants reimburse for taxes and maintenance expenses.
EXECUTIVE SUMMARY
The Property is 100% leased to 8 tenants with an average WALT of approximately 4 years and an average in-place base rent of $34 per square foot/NNN. The Tenant's leases all have personal guarantees on the lease and uses range from food & beverage services, beauty and aesthetics businesses, tutoring services, and a lifestyle retail store.
PROPERTY FACTS
AMENITIES
- Pylon Sign
- Restaurant
- Signage
- Signalized Intersection
- Monument Signage
1 UNIT AVAILABLE
Unit 513
| Unit Size | 11,445 SF | Cap Rate | 6.40% |
| Price | $8,515,112 CAD | NOI | $544,967.18 CAD |
| Price Per SF | $744.00 CAD | No. Parking Spaces | 60 |
| Condo Use | Retail | Sale Conditions | 1031 Exchange |
| Sale Type | Investment or Owner User |
| Unit Size | 11,445 SF |
| Price | $8,515,112 CAD |
| Price Per SF | $744.00 CAD |
| Condo Use | Retail |
| Sale Type | Investment or Owner User |
| Cap Rate | 6.40% |
| NOI | $544,967.18 CAD |
| No. Parking Spaces | 60 |
| Sale Conditions | 1031 Exchange |
DESCRIPTION
Legat Commercial Real Estate, LLC as the exclusive representative for Bernstein Management Group, Inc, is pleased to present for sale the condominium interest in the Village Green Shopping Center condominium complex located at 507-519 Maple Ave W, Vienna, Virginia, a 11,445 SF retail building situated on 1.10 acres of land (the“Property”). The Property is 100% leased to 8 tenants with an average WALT of approximately 4 years and an average in-place base rent of $34 per square foot/NNN. The Tenant's leases all have personal guarantees on the lease and uses range from food & beverage services, beauty and aesthetics businesses, tutoring services, and a lifestyle retail store.
In addition to having secure in-place cash flow, this opportunity provides a highly attractive, multitenanted, triple net investment with minimal to no Landlord responsibilities. The condominium complex's HOA is professionally managed by Trimark who handles all maintenance of the entire building structure, building systems, common area and roof. The tenants on NNN leases reimburse for all Landlord expenses.
The Property is located in the center of Vienna on Maple Ave which has an average of 30,000 vehicles pass by per day. The location is also in close proximity to Tysons Corner, Merrifield, and Oakton and commands one of the highest medium household incomes in Fairfax of $200,000.
Village Green Shopping Center offers potential investors the opportunity to invest in a hands-off, stable, cash flowing, readily financeable investment property, that may be acquired for an attractive 6.4% CAP rate.
Please do not disturb the Tenants. Contact the brokers for all tour inquiries.
SALE NOTES
Potential for partial owner user opportunity as a buyer may decide to move into an available space when the current lease expires and is not renewed.
Tenant's suite
Common area lobby 2nd floor
Tenant's suite
Tenant's suite
NEARBY MAJOR RETAILERS
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507-519 Maple Ave W - Village Green Shopping Center
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