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716 Woodlake Dr
Chesapeake, VA 23320
Enterprise Truck Rental · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Prime visibility off main road.
- Easy interstate access.
- Large parking area.
- Located at signalized corner next to Wawa.
- Core trade area (Chesapeake Conference Ctr, hotels, car dealerships, shopping centers).
- Investment grade credit tenant (S&P: A-).
EXECUTIVE SUMMARY
SLN Capital Markets, a division of S.L. Nusbaum Realty Co., is pleased to exclusively present for sale the Enterprise Truck Rental property located at 716 Woodlake Drive in Chesapeake, VA. The tenant recently exercised its third renewal option showing a strong commitment to this location. The property sits at a signalized corner, adjacent to Wawa, in the city’s core retail, hospitality and business district. Enterprise Truck Rental is a subsidiary of Enterprise Mobility (formerly Enterprise Holdings) which has an investment grade credit rating (S&P: A-). There are approximately four years left on the initial lease term with three, 5-year options. There are 10% rent increases in each option period
PROPERTY FACTS
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Building Size
1,131 SF
Building Class
C
Year Built
1990
Price
$1,545,419 CAD
Price Per SF
$1,366.42 CAD
Cap Rate
6.95%
NOI
$107,407 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Lot Size
5.60 AC
Zoning
PUD
Parking
250 Spaces (10 Spaces per 1,000 SF Leased)
Frontage
314’ on Woodlake Dr
AMENITIES
- Dedicated Turn Lane
- Drive Thru
PROPERTY TAXES
| Parcel Number | 0280000000080 | Improvements Assessment | $319,772 CAD |
| Land Assessment | $1,129,511 CAD | Total Assessment | $1,449,283 CAD |
PROPERTY TAXES
Parcel Number
0280000000080
Land Assessment
$1,129,511 CAD
Improvements Assessment
$319,772 CAD
Total Assessment
$1,449,283 CAD
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