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Aaron's

700 J Clyde Morris Blvd, Newport News, VA 23601

Listing Price: $1,600,000

Cap Rate
8.25%
Tenant Name
Aaron's
Years Remaining On Lease
3.3
Guarantor
Corporate Guarantee
Rentable SF
11,440
Lease Type
Absolute Net
Rent Per Square Feet
$11.54

Investment Overview

Corporately guaranteed, absolute net lease Aaron's located in Newport News, VA. Tenant recently executed a 3-year extension and completed a remodel of the building in 2022 at their expense. Newport News boasts strong population counts with over 176,000 residents within 5 miles.

Investment Highlights

  • Absolute net corporate lease - Corporate guarantee by Aaron's Corp. with an absolute net lease provides no landlord responsibilities.
  • Brand new 3-year extension - The tenant recently executed a 3-year extension for this property, showing continued commitment to the location.
  • 2022 remodel - The building was renovated in 2022, at tenants expense, to feature the new modern Aaron's branding and look.
  • Strong population - With 176,000+ residents and 74,000+ households within 5 miles, there is an ample customer base for the tenant.
  • Attractive rent/sf - At $11.54 rent p/sf and rental increases every 5 years in options, this property is perfect for both new and experienced investors

Exclusively Listed By

Broker of Record

  • Brian Hosey

    Senior Vice President/Division Manager

    (202) 536-3700

    License(s) VA: 0225247494

    Virginia

Financing By

Listing Price: $1,600,000

Cap Rate
8.25%
Tenant Name
Aaron's
Years Remaining On Lease
3.3
Guarantor
Corporate Guarantee
Rentable SF
11,440
Lease Type
Absolute Net
Rent Per Square Feet
$11.54

Investment Highlights

  • Absolute net corporate lease - Corporate guarantee by Aaron's Corp. with an absolute net lease provides no landlord responsibilities.
  • Brand new 3-year extension - The tenant recently executed a 3-year extension for this property, showing continued commitment to the location.
  • 2022 remodel - The building was renovated in 2022, at tenants expense, to feature the new modern Aaron's branding and look.
  • Strong population - With 176,000+ residents and 74,000+ households within 5 miles, there is an ample customer base for the tenant.
  • Attractive rent/sf - At $11.54 rent p/sf and rental increases every 5 years in options, this property is perfect for both new and experienced investors

Investment Overview

Corporately guaranteed, absolute net lease Aaron's located in Newport News, VA. Tenant recently executed a 3-year extension and completed a remodel of the building in 2022 at their expense. Newport News boasts strong population counts with over 176,000 residents within 5 miles.

Exclusively Listed By

Broker of Record

  • Brian Hosey

    Senior Vice President/Division Manager

    (202) 536-3700

    License(s): VA: 0225247494

    Virginia

Financing By

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