Listed by Sands Investment Group Austin, Sands Investment Group Philadelphia
$3,800,000
National Seating & Mobility - Richmond, VA
Details
Property Type Industrial
Sub Type Distribution, Flex
Square Footage 20,615
Cap Rate 7.41%
NOI $281,590
Occupancy 100%
Tenancy Multi
Lease Type NNN
Price per SqFt $184
Year Built 1987
Acreage 2.840
Ground Lease No
7.50% Flex Industrial | National Seating & Mobility - $750M in Revenue | Richmond, VA
Marketing description
Sands Investment Group is pleased to exclusively offer for sale the multi- tenant flex office and industrial asset located at 3941 Deep Rock Rd in Richmond, VA. Property is anchored by a lease with National Seating & Mobility, a leader in the custom wheelchair and chair lift space with over 200 locations across North America. This is a rare opportunity to acquire a quality flex asset leased to an industry-leading tenant in the core Henrico submarket of Richmond, VA.
Investment highlights
- Strong Anchor Tenant: National Seating & Mobility is a leader in the healthcare industry with over 200 locations across North America and occupies roughly 75% of the property. National Seating & Mobility (NSM) reported annual revenue of approximately $750 million in 2023. The company has more than 2,600 employees across 4 continents and serves over 300,000 clients annually.
- Long-Term Site Commitment: Both tenants have been at the site for over 5 years and have recently extended their leases. National Seating & Mobility has also recently expanded at this location, demonstrating a long-term commitment to the market.
- Strong Annual Increases: This deal provides a 2.5% annual increase in rent from both tenants.
- Infill Industrial Asset: Rare opportunity to acquire an infill industrial asset in the Henrico-Richmond submarket.
- Highly Functional Industrial Real Estate: Located directly between I- 64 and Highway 250, this site also provides two entry points off Deep Rock Road, offering drivers easy and efficient access.
- Two-Tenant Opportunity: This property is currently occupied by two tenants, offering diversification compared to a purely single-tenant asset.
- Strong Demographics: Population exceeds 200,000 with an average household income over $148,000 within a 5-mile radius.
Listing Contacts
Listed by Sands Investment Group Austin, Sands Investment Group Philadelphia
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Loan Amount
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Annual Debt Service
$--
$--
Annual Cash Flow
$281,590.00
$23,465.83/mo
Valuation Metrics
0
DSCR
7.41%
Cap Rate
7.41%
ROI
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