AARON`S RENTS - TRIPLE NET LEASE PURCHASE PRICE

AARON’S RENTS - TRIPLE NET LEASE
PURCHASE PRICE: $1,744,317
(CAP RATE 7.25%)
Richmond, VA
*Actual location is shown
700 J. Clyde Morris Blvd, Newport News, VA
Building Size:
11,535 Square Feet
Land Size:
Approx. 0.50 Acres
(21,780 Square Feet)
Parking:
Adequate
Area Tenants:
Pappa John’s Pizza, Wendy’s, Rite
Aid, KFC, Kangaroo Express
Annual Rent:
$126,463 - Years 1-5
($10.96 per building SF)
Tenant
Responsibility:
RE Taxes, CAM, Insurance,
Roof & Structure
Initial Rent
Commencement:
June 1, 2009
Lessor
Responsibility:
NONE — Absolute Triple Net
Initial Lease
Expiration:
June 1, 2024
Lease
Guarantor:
Initial Lease Term:
15 -Year Triple Net Lease
Aaron’s, Inc.
S & P Rating: ATrade Symbol: AAN—NYSE
Renewal Options:
Three (3) / 5—Year Renewals
Rent Increases:
10% Increase Every 5 Years
and 10% in Each Option
Demographics:
1-MILE
3-MILE
5-MILE
Population:
10,890
77,736
172,169
Median Income:
$46,347
$53,999
$54,940
$51,339
$62,913
$63,890
Average Income:
Aaron’s Rents
Newport News, VA
Raleigh, NC
CONTACT INFORMATION
Tri-Oak Consulting Group
Greg Fitzgerald, CCIM
(800) 385-6421 Ext. 1
www.Tri-Oak.com
[email protected]
* The above information has been secured by sources deemed to be reliable, Tri-Oak Commercial Group no representations or warranties expressed or implied as to the
accuracy of the above information. References to square footage or age are approximate. Purchaser must verify the accuracy of the above information and bears all risks
for any inaccuracies. Above information is subject to verification and no liability for errors or omissions are assumed.
* The above information has been secured by sources deemed to be reliable, Tri-Oak Commercial Group no representations or warranties expressed or implied as to the
accuracy of the above information. References to square footage or age are approximate. Purchaser must verify the accuracy of the above information and bears all risks
for any inaccuracies. Above information is subject to verification and no liability for errors or omissions are assumed.
Daily Traffic Counts
* The above information has been secured by sources deemed to be reliable, Tri-Oak Commercial Group no representations or warranties expressed or implied as to the
accuracy of the above information. References to square footage or age are approximate. Purchaser must verify the accuracy of the above information and bears all risks
for any inaccuracies. Above information is subject to verification and no liability for errors or omissions are assumed.
* The above information has been secured by sources deemed to be reliable, Tri-Oak Commercial Group no representations or warranties expressed or implied as to the
accuracy of the above information. References to square footage or age are approximate. Purchaser must verify the accuracy of the above information and bears all risks
for any inaccuracies. Above information is subject to verification and no liability for errors or omissions are assumed.