3245 Boulevard Colonial Heights, VA 23834
- Retail properties
- 20,307 SF
- 1.43 lot acres
Current Use by Public Records
- Brick Restoration and Revitalization / Masonry Contractor
Property Details for 3245 Boulevard
- Lot size
- 1.43 lot acres
- Property size
- 20,307 SF
- Property type
- Retail properties
- Property subtype
- Auto shops
Description
This exceptional investment opportunity presents a fee-simple owned, 20,307 square foot Caliber Collision auto shop in Colonial Heights, VA. Located on Boulevard, a high-traffic road with 28,000 vehicles per day, and near Interstate 95, this property benefits from excellent visibility and accessibility. The building, renovated in 2019, is under a 15.1-year NNN lease (9.9 years remaining) with a corporate guarantee from Caliber Collision, a nationally recognized brand. The lease includes 10% rent bumps every five years, including options to extend for an additional 10 years, providing a strong hedge against inflation. The property boasts a 5.92% cap rate and a substantial NOI of $236,583. With a 1.43-acre lot size and a permitted commercial zoning, this asset offers a compelling combination of strong tenant performance, long-term lease security, and significant upside potential. The property's location within a thriving trade area, featuring a high average household income and proximity to Richmond, further enhances its investment appeal. The landlord's responsibilities are limited to structural components, ensuring a largely passive investment experience. This is a rare opportunity to acquire a high-performing, net-leased asset with a blue-chip tenant in a prime location.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Colonial Heights
- County
- Colonial Heights City
- State
- Virginia
- Longitude
- -77.412
- Latitude
- 37.2742
