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Published byEaster Scott Modified over 9 years ago
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Don Kettering
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1 story commercial building, single tenant space Located in Falls Church new Core Commercial Area where city plans to increase walkability and density Physical condition is poor and building has not been maintained Frontage on Washington St. & 30 parking spaces in back Nationwide Insurance occupies and is on NNN lease for $35/ PSF On the market for a list price of $1,960,000
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Acquire asset for $1,866,666 – $35 / SF at a 7.5% CAP Rate Build 2 nd floor, utilize the existing building and new steel framing to build above – CAX cost $1MM, 4 month duration New 2 tenant space with street level retail and office/ retail on second floor Cap X will command $40/SF ground floor and $38/SF 2 nd Floor
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