Auto Shop Portfolio with Absolute NNN
New
For Sale
$1,977,600
3901 Williamsburg Rd, Richmond, VA 23231
Multi-property auto parts portfolio leased to Genuine Parts Company with extended NNN terms and limited landlord responsibilities.
Property Size7,920 SF
Price / SF$249.70
Days on Market2
Property Features for 3901 Williamsburg Rd
General Information
Standard status
Active
Size
7,920 SF
Property subtype
Auto Parts
Financials
Cap Rate
6.75%
Gross Income
$938,088
Amenities
FORTUNE 500 PARENT COMPANY
INVESTMENT-GRADE TENANT CREDIT
NEW 5-YEAR LEASE EXTENSIONS
Building Details
Building Size
7,920 SF
Buildings
9
Listing Agency:
Miami Office
(786) 522-7056
Listed By:
Alex Zylberglait · License #License(s): FL: BK3015211
(786) 522-7056
Source:
Marcusmillichap
Added: Jul 29
Changed: Jul 30
Last Checked: Jul 30 at 8:28AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Miami Office
Investment Insights
Based on property information with market context.
This auto shop portfolio is leased to Genuine Parts Company (NYSE: GPC) and its subsidiary. The offering includes a structured set of NNN lease arrangements designed to reduce owner involvement, including eight master lease renewals under an Absolute NNN framework and one additional direct lease for the Florida location.
The tenant recently executed five-year lease extensions across the portfolio. All extended terms commence on November 1, 2027, and run through October 31, 2032, supporting long-dated occupancy. The eight master-leased properties include rent escalations in Year 4 of the renewal term, and the Absolute NNN structure is described as having absolute zero landlord responsibilities.
The Florida direct lease operates under a standard NNN structure, with ownership responsibilities identified as the roof, exterior walls, structural supports, foundations, underground utility lines, and parking areas. The portfolio spans multiple states, providing geographic diversification within the automotive aftermarket demand cycle. The offering is described with a 6.75% cap rate.
The tenant recently executed five-year lease extensions across the portfolio. All extended terms commence on November 1, 2027, and run through October 31, 2032, supporting long-dated occupancy. The eight master-leased properties include rent escalations in Year 4 of the renewal term, and the Absolute NNN structure is described as having absolute zero landlord responsibilities.
The Florida direct lease operates under a standard NNN structure, with ownership responsibilities identified as the roof, exterior walls, structural supports, foundations, underground utility lines, and parking areas. The portfolio spans multiple states, providing geographic diversification within the automotive aftermarket demand cycle. The offering is described with a 6.75% cap rate.
Key Highlights
- Leased to Genuine Parts Company (NYSE: GPC) and its subsidiary
- Eight master lease renewals under Absolute NNN with zero landlord responsibilities
- Florida direct lease under standard NNN with ownership covering roof, exterior walls, and structural elements
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $135.0k | $17.04 |
| − Vacancy | −$11.5k | −$1.45 |
| EGI | $123.5k | $15.59 |
| − OpEx | −$37.0k | −$4.68 |
| NOI | $86.4k | $10.91 |
7,920 SF · lease $17.04/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.23M
$1.08M – $1.44M
NOI $86,440 @ 7.0% cap · market cap 4.37%
Second Best
Industrial
$717.4K
$627.7K – $836.9K
NOI $50,215 @ 7.0% cap · market cap 2.54%
Theoretical Best
Office A
$1.83M
$1.60M – $2.13M
NOI $128,085 @ 7.0% cap · market cap 6.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
671
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 23231, VA
37,455
Population
17,028
Households
2.2
Avg Household Size
40
Median Age
29%
College-Educated
92%
High-School Grad
88.2 sq mi
ZIP Area
425
Density / Sq Mi
$74,245
Median Household Income
$43,315
Median Earnings
$1,272
Median Rent
$270,400
Median Home Value
Market
Vacancy Rate% for Retail in Richmond, VA
Questions? Ask Rey
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Similar Off Market Nearby
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- EFI Performance LLC — 4104 Eubank Rd, Richmond, VA 23231
- Burkhead Performance — 4204 Eubank Rd, Henrico, VA 23231
Frequently Asked Questions
What type of property is this?
Auto shop - Multi-property auto parts portfolio leased to Genuine Parts Company with extended NNN terms and limited landlord responsibilities.
Where is this auto shop located?
The property is located at 3901 Williamsburg Rd Richmond, VA.
What is the asking price?
The asking price for this property is $1,977,600.
What are key features of this property?
This property features: Leased to Genuine Parts Company (NYSE: GPC) and its subsidiary; Eight master lease renewals under Absolute NNN with zero landlord responsibilities; Florida direct lease under standard NNN with ownership covering roof, exterior walls, and structural elements
