Cap Rate: 7.25%
Net Operating Income: $122,000
Square Footage: 9,382
Year Built: 1989
The subject property is a rare 9,382 square foot, two story office building in Williamsburg, Virginia. The property is leased to Solutionz, a top tier partner of the nation’s leading A/V manufacturer. The tenant is subject to a 10 year absolute NNN lease with zero landlord obligations. The lease calls for annual 2% rental increases and two, 5 year options to renew.
The site is ideally located in the City of Williamsburg limits and walking distance to Colonial Williamsburg and the College William and Mary.
Williamsburg is a city in the U.S. state of Virginia. As of the 2010 U.S. Census, the population was 14,068. In 2019, the population was estimated at 14,954.Located on the Virginia Peninsula, Williamsburg is in the northern part of the Hampton Roads metropolitan area. It is bordered by James City County and York County.
The city’s tourism-based economy is driven by Colonial Williamsburg, the city’s restored Historic Area. Along with nearby Jamestown and Yorktown, Williamsburg forms part of the Historic Triangle, which annually attracts more than four million tourists. Modern Williamsburg is also a college town, inhabited in large part by William & Mary students, faculty and staff.