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Automotive Highway Properties Portfolio

16 Retail Properties Offered at $36,566,399 CAD in Norfolk, VA

Investment Highlights

  • Portfolio tenants include: Avis Car Rental, Leslie’s Pool Supplies, car and truck repairs, car stereo installation, and used car dealerships.
  • Close to the Norfolk International Airport (“ORF”) located on major thoroughfares.
  • Many of the parcels have great highway exposure to attract automobile dealerships and related service facilities clientele.
  • Excellent signage in place on most properties for high visibility.

Executive Summary

The ultimate buyer of these properties gains the opportunity to hit the ground running and be actively engaged in oversight and implementation of a proven real estate portfolio generating net operating income of approximately $1,300,000.00. The redacted rent roll on page iii of the brochure provides basic information with current rent rates available after signing a confidentiality agreement and basic introductions between buyer and seller. A 23 page brochure is attached explaining all 16 parcels.
It is conceivable that some tenants may wish to purchase their occupied parcels, thus reducing the portfolio size and purchase price accordingly. This is an open listing paying 1% commission to agents/brokers who are not affiliates of the purchaser. The portfolio is on an "as-is and where-is" basis without representations except as to the existing lease documents. As of today, the portfolio will sell for $26MM (based on current NOI of $1.3MM increasing +/-3% per year). No parties are obligated until a mutually satisfactory agreement is entered into by all parties. Feel free to register your clients who have expressed an interest in having your efforts represent them in this portfolio and contact me for further information.

Taxes & Operating Expenses (Actual - 2023)

Annual (CAD)
Gross Rental Income -
Other Income -
Vacancy Loss -
Effective Gross Income -
Net Operating Income $1,826,084

Taxes & Operating Expenses (Actual - 2023)

Gross Rental Income (CAD)
Annual -
Other Income (CAD)
Annual -
Vacancy Loss (CAD)
Annual -
Effective Gross Income (CAD)
Annual -
Net Operating Income (CAD)
Annual $1,826,084

Property Facts

Price $36,566,399 CAD
Price / SF $431.72 CAD / SF
Cap Rate 5%
Sale Type Investment
Status Active
Number of Properties 16
Individually For Sale 1
Total Building Size 84,700 SF
Total Land Area 13.58 AC
  • Listing ID: 17627901

  • Date on Market: 2019-11-04

  • Last Updated:

  • Address: Automotive Highway Properties Portfolio, Norfolk, VA

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