Mills Crossing @ Potomac Mills

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Northern Virginia Investment Opportunity. 100% Leased Strip Mall / Strip Center For Sale

Text of Mills Crossing @ Potomac Mills

  • rlt R. L. Travers & Associates, Inc.

    Disclaimer: We have in preparing this information, used our best endeavors to ensure that the information contained herein is true and accurate, and deemed to be a reliable reflection of market values or has been

    secured from sources we believe to be reliable, but we make no representation, guarantee or warranties, expressed or implied, as to the accuracy of the information complete, or reliable, current or error-free and

    assume no responsibility for any errors or omissions contained therein. All references to age, square footage, income, and expenses are approximate. This is not a survey, any pictures, images, or drawings are only for

    illustrative purposes. Any party should conduct their own independent investigations and rely solely on those results. This is not intended as a listing solicitation for a property currently listed with another broker.

    For more information, please contact:

    Guy Travers, Principal Broker

    703.339.0100

    gtravers@rltinc.net

    Post Office Box 686 Springfield, Virginia 22150 P: 703.339.0100 F: 703.550.8815

    www.rltinc.net

    14330 - 14338 Gideon Dr Woodbridge, Virginia 22192

    MILLS CROSSING @ POTOMAC MILLS

    NORTHERN VIRGINIA INVESTMENT OPPORTUNITY

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    Property Address: 14330 - 14338 Gideon Dr, Woodbridge, VA 22192 Potomac Mills / I-95 Corridor Submarket Executive Summary: 7,200 SF Total Rentable Area (100% Leased) $2,775,600 Purchase Price ($385.50 Price/SF) $178,405.71 NOI (Net Operating Income) In Place 6.43% Cap Rate (NOI Purchase Price) Net-Net Lease (Landlord is responsible for repairs to the Foundation, Roof (excluding HVAC) and Structure, Common Areas, Building Insurance, and Real Estate Taxes.)

    Investment Highlights: Adjacent to the 1,606,000 sf (9,000 parking) Potomac Mills Super Regional Mall; Anchors include Bloomingdales, Sears, Neiman Marcus, JC Penny, Saks Fifth Avenue, Costco, T.J. Maxx, Nordstrom, AMC 18 Theatres, & many more.

    Area retailers include Home Depot, Kohl's, IKEA, Best Buy, Old Navy, Lowes, Wal-Mart, hhgregg, BJs, Havertys, Target, Dicks Sporting Goods, Pier 1 Imports, among many others.

    Demographic Information & Area Profile: Average Household Income of $81,832 within a 5 mile radius (2010 estimate)

    Average number of Households 69,647 within a 5 mile radius (2010 estimate)

    Average Population of 203,245 within a 5 mile radius (2010 estimate), 399,973 for Prince William County and is projected to grow to 535,629 persons by 2030

    Prince William Countys unemployment rate was 5.6% as of August 2010, compared to VA at 7.0% & 9.6% nationally

  • rlt R. L. Travers & Associates, Inc.

    Disclaimer: We have in preparing this information, used our best endeavors to ensure that the information contained herein is true and accurate, and deemed to be a reliable reflection of market values or has been

    secured from sources we believe to be reliable, but we make no representation, guarantee or warranties, expressed or implied, as to the accuracy of the information complete, or reliable, current or error-free and

    assume no responsibility for any errors or omissions contained therein. All references to age, square footage, income, and expenses are approximate. This is not a survey, any pictures, images, or drawings are only for

    illustrative purposes. Any party should conduct their own independent investigations and rely solely on those results. This is not intended as a listing solicitation for a property currently listed with another broker.

    For more information, please contact:

    Guy Travers, Principal Broker

    703.339.0100

    gtravers@rltinc.net

    Post Office Box 686 Springfield, Virginia 22150 P: 703.339.0100 F: 703.550.8815

    www.rltinc.net

    14330 - 14338 Gideon Dr Woodbridge, Virginia 22192

    MILLS CROSSING @ POTOMAC MILLS

    NORTHERN VIRGINIA INVESTMENT OPPORTUNITY

    Located in the heart of the Primary Retail Corridor for Prince William County, this investment offering is for the opportunity to purchase the Mills Crossing (Property), which is an approximately 7,260 square feet of shopping plaza, fully leased, located on a parcel consisting of 39,539 square feet (0.91 acres of land); which is adjacent to Pier 1 Imports, Kaiser Permanente Woodbridge Medical Center, Stafford University, Bamboo Buffet Noodle & Grille, and Costco Potomac Mills & Gas Station. The Property is strategically located next to the Potomac Mills Mall, renovated in 2005, and has over 225 retailers and an 18-screen AMC movie theater. Potomac Mills Mall Anchors include Against All Odds, AMC Theatres, Bloomingdale's Outlet, Books-A-Million, Modell's Sporting Goods, Neiman Marcus Last Call Clearance Center, Nike Factory Outlet, Nordstrom Rack, Off Broadway Shoe Warehouse, Old Navy, Off 5th Saks Fifth Avenue, Sears Outlet, TJ Maxx, Victoria's Secret, XXI Forever, Burlington Coat Factory, Brooks Brothers, & Costco. Other major retailers in the immediate trade area include Havertys Furniture, Toys R Us, HHgregg, AJ-Wright, Staples, IKEA, Sams Club, Wal-Mart, Dick's Sporting Goods, PetSmart, Target, Office Depot, Home Depot, Flooring America, Lowes, Kohl's, BJs, Wegmans Potomac & many more.

    Investment Overview

  • rlt R. L. Travers & Associates, Inc.

    Disclaimer: We have in preparing this information, used our best endeavors to ensure that the information contained herein is true and accurate, and deemed to be a reliable reflection of market values or has been

    secured from sources we believe to be reliable, but we make no representation, guarantee or warranties, expressed or implied, as to the accuracy of the information complete, or reliable, current or error-free and

    assume no responsibility for any errors or omissions contained therein. All references to age, square footage, income, and expenses are approximate. This is not a survey, any pictures, images, or drawings are only for

    illustrative purposes. Any party should conduct their own independent investigations and rely solely on those results. This is not intended as a listing solicitation for a property currently listed with another broker.

    For more information, please contact:

    Guy Travers, Principal Broker

    703.339.0100

    gtravers@rltinc.net

    Post Office Box 686 Springfield, Virginia 22150 P: 703.339.0100 F: 703.550.8815

    www.rltinc.net

    14330 - 14338 Gideon Dr Woodbridge, Virginia 22192

    MILLS CROSSING @ POTOMAC MILLS

    NORTHERN VIRGINIA INVESTMENT OPPORTUNITY

    Suite Tenant Rentable

    Sq Ft ()

    Initial Lease Term

    Annual Rent Monthly

    Rent Rent PSF

    Increases CAM Real

    Estate Taxes

    INS Renewal Options

    A-C Happy Home

    Child Learning Center, Inc.

    4,000 (56%)

    Nov-08 to

    Oct-13 (5 Yrs)

    $129,000.00 $10,750.00 $32.25 Nov-11

    9.3% Annually

    $1,688.96 $7,386.79 $1,512 None

    D-E Tee'd Off

    Indoor Golf 3,200 (44%)

    Mar-09 to

    Apr-12 (3 Yrs)

    $68,312.41 (aso 3/1/11)

    $5,692.70 $21.35 Mar-11

    3% Annually

    $1,327.04 $5,803.91 $1,188 None

    Total 7,200 $197,312.41 $16,442.70 $3,016.00 $13,190.70 $2,700

    Property: Mills Crossing

    Price: $2,775,600

    As-Is NOI (100% Leased): $178,405.71 (as of March 1st, 2011)

    Rental Increases: Yearly during base term

    Capitalization (Cap) Rate: 6.43%

    Monthly Cash Flow (after expenses): $14,867.14 (Loan Points & Mortgage Not Included)

    Cash On Cash Return (before-taxes): 12.86% (First Year Cash Flow 50% Down Payment / Initial Investment)

    Building Size Total: 7,260 SF included in the offering

    Site Area: 39,539 SF (0.91 acres of land)

    Address: 14330 - 14338 Gideon Drive,

    Woodbridge, Virginia 22192

    Prince William County

    Parcel Number (APN): 8291-78-6532, Neighborhood Shopping Center

    Year Built: 2008

    Ownership: Fee Simple Interest

    Lease Type: Net-Net (double-net) lease. Landlord is responsible for repairs to the Foundation, Roof (excluding HVAC) and Structure, Common Areas, Building Insurance, and Real Estate Taxes.

    Rent Roll / Lease Summary

    Investment Summary

  • rlt R. L. Travers & Associates, Inc.

    Disclaimer: We have in preparing this information, used our best endeavors to ensure that the information contained herein is true and accurate, and deemed to be a reliable reflection of market values or has been

    secured from sources we believe to be reliable, but we make no representation, guarantee or warranties, expressed or implied, as to the accuracy of the information complete, or reliable, current or error-free and

    assume no responsibility for any erro