McLean Bible Church - Manassas, VA
Now an 8% Cap | 53K SF Single-Tenant Building along I-66 in Manassas, VA | Recent Term Extension
Marketing description
Recent 7-Year Extension | Scheduled Rental Increases | Washington DC MSA | New Roof Added | Long Operating History
• Exercised a 7-year extension, demonstrating their commitment to this location
• Features 3% annual rental increases throughout the initial term, growing NOI and hedging against inflation
• Located in the Washington DC MSA, a strong business and trade hub providing ample attendees for the church
• New roof recently added with a 15-year warranty, limiting capital expenditures
• McLean Bible Church has a long operating history, with the property operating out of
NNN Leased | Fee Simple Ownership | No Landlord Responsibilities this location since 2008
• Tenant pays for taxes, insurance, and CAM
• No landlord responsibilities
• Ideal, low-management investment for a passive investor
Parkridge Center (332,000 SF) | Bull Run Plaza (414,000) |Sudley Towne Plaza (229,000 SF) | Primary Retail Corridor | McLean Bible Church
• Positioned less than a mile east of Parkridge Center, a 332,000 square foot power center that also features national/credit tenants including Kohl’s, Old Navy, and Regal Theatres
• Part of Parkridge Plaza has been planned to be reveloped into 363 townhomes/stacked condos that will replace about half the existing retail space
• Located just northeast of Bull Run Plaza, a 414,000 square foot power center that is anchored by Michael’s, Marshalls, and Dick Sporting Goods
• Positioned just north of Sudley Towne Plaza, a 229,000 square foot center anchored by Big Lots, Burlington, and Best Buy
• Located in the center of a primary retail corridor with other nearby national/credit tenants including The Home Depot, Lowe’s Home Improvement, Costco Wholesale, Sprouts Farmers Market, ALDI, Dollar General, and more, further increasing consumer traffic to the site
• Strong tenant synergy promotes crossover shopping to the subject property
• Mclean Bible Church is a non-denominational evangelical multi-site megachurch based in Vienna, VA, and has several locations in the Washington D.C area
• The church was founded in 1961 by five families in Northern Virginia
Strong Demographics in 10-Mile Trade Area | Six-Figure Incomes
• More than 533,400 residents and 241,300 employees support the trade area
• Affluent average household income of $192,636
Investment highlights
McLean Bible Church is one of the largest mega churches with 5 facilities in the greater Washington, D.C. region
Recent 7-year lease renewal, demonstrating commitment to this Prince William facility
Long-tenancy since 2008
Triple Net lease with 3% annual rental increases. New roof installed August 2024, 15-year warranty
Parent lease signature
Full-service facility including worship sanctuary, classrooms for Sunday School, Bible Study, Church Groups, and seasonal camps
In 2018, McLean Bible Church reported weekly attendance more than 10,000 people across their 5 campuses
More than 533,400 residents and 241,300 employees support the trade area, with affluent average household income of $192,636
Manassas is a major Washington, D.C. suburb along I-66
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