CITGO - NNN Net Lease Property for Sale
Richmond, VA
Key Investment Metrics
Price
$1,711,000
Cap Rate
7.0%
Net Operating Income
$119,777
Building Size
8000 SF
Lot Size
1,425 SF
Land Area
1.07 Acres
Year Built
1991
Occupancy
100%
Tenancy
Multi
Rent Increases
1.5% Annually
About This CITGO Net Lease Property
This CITGO NNN (triple net lease) property is located in Richmond, VA and represents an excellent investment opportunity for commercial real estate investors. The property features 8000 square feet of building space and was built in 1991.
With a cap rate of 7.0%, this CITGO net lease property offers stable income potential. The asking price is $1,711,000, making it an attractive option for 1031 exchange investors seeking quality CITGO commercial properties.
Why Invest in CITGO NNN Properties?
- Stable Income: CITGO net lease properties provide predictable cash flow with minimal landlord responsibilities.
- Strong Tenant: CITGO is a nationally recognized brand with proven operational success.
- 1031 Exchange Eligible: This property qualifies for 1031 tax-deferred exchanges, allowing investors to defer capital gains taxes.
- Triple Net Lease: The tenant is responsible for property taxes, insurance, and maintenance, reducing landlord obligations.
Richmond, VA Market Overview
Located in Richmond, VA, this CITGO property benefits from strong local demographics and market fundamentals. The Richmond area offers excellent visibility and accessibility, making it an ideal location for CITGO operations and a solid investment for net lease property buyers.