ACE Insurance - Salem, VA

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Pricing and Location


Price:   $10,900,000

Address:   616 Idaho Street, Salem, VA 24153

Status:   Available

Property Details


CAP Rate: 10.04% Year Built: 2006
Net Rentable Area: 48,580
Lot Size (Acres): 4.95 NOI: $1,094,785*

Marketing Materials


Property Description


We are pleased to present an ACE American Insurance Company office located in Salem, VA. This is a NNN lease and provides for strong rental growth, with 2.5% annual increases. There are two 5-year options on the property, and the tenant reimburses all expenses. (The property offers gross receipts of $1,097,391, but is priced at the 2017 rents of $1,124,826. Unreimbursed leasing fee of $30,041. Net operating income of $1,094,785.)*

Area Map and Street View


What Clients Are Saying                                     
 

"I want to thank for your part in helping us achieve our sale leaseback goals for 2009. We are pleased with the balance you helped us achieve between sales price, rent and overall cap rate. I would not hesitate to recommend you and your firm to other potential clients. Feel free to use me as a reference."
Joe Cirelli/The Pep Boys Manny, Moe & Jack

Contact Us

NNN Deal
in association with Marcus & Millichap

16830 Ventura Blvd. Suite 100
Encino, CA 91436

Lior Regenstreif
First Vice President, Investments
Senior Director, National Retail Group
E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.


Rebekah Zweiban Wallack

Senior Research Analyst
Special Projects Coordinator
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Toll Free: 888.NNN.DEAL
Phone: 818.907.9525
Fax: 818.907.8557