Enterprise Truck Rental
$1,130,072
716 Woodlake Dr, Chesapeake, VA 23320
6.95
Cap Rate
78,540
NOI
Details:
Highlights:
- Prime visibility off main road.
- Located at signalized corner next to Wawa.
- Easy interstate access.
- Core trade area (Chesapeake Conference Ctr, hotels, car dealerships, shopping centers).
- Large parking area.
- Investment grade credit tenant (S&P: A-).
- High Avg HHI: +/- $100,000 within 3 mi.
Description:
SLN Capital Markets, a division of S.L. Nusbaum Realty Co., is pleased to exclusively present for sale the Enterprise Truck Rental property located at 716 Woodlake Drive in Chesapeake, VA.
The tenant recently exercised its third renewal option showing a strong commitment to this location. The property sits at a signalized corner, adjacent to Wawa, in the city’s core retail, hospitality and business district. Enterprise Truck Rental is a subsidiary of Enterprise Mobility (formerly Enterprise Holdings) which has an investment grade credit rating (S&P: A-).
There are approximately four years left on the initial lease term with three, 5-year options. There are 10% rent increases in each option period.
Chesapeake, Virginia (population 257,000+) is an independent city in southeastern Virginia and a key component of the Virginia Beach–Norfolk–Newport News metropolitan area, a region home to more than 1.8 million residents and the 37th-largest MSA in the United States. It is also the headquarters of Dollar Tree, a Fortune 500 company. Chesapeake’s strong and diverse economy benefits from its strategic Mid-Atlantic location, well-developed transportation network, and proximity to major military installations. The city supports a balanced mix of manufacturing, logistics, defense-related industries, and corporate employers, creating a stable economic environment and contributing to sustained regional growth.
Documents:
| Title | ||
|---|---|---|
| Enterprise_716_Woodlake_Drive_OM.pdf |
Location
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