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11085 Lee Highway
11004 & 11006 Park Road
Fairfax, VA 22030
LEE HIGHWAY DEVELOPMENT
• For Sale: $6.75 Million
• NNN Retail & Potential Future Residential
• Combined Total of approx. 2 Acres
Great Value-add opportunity! This sale constituents two parts: a stable income generating retail property and a future residential development land. The retail component contains a stand along 5,250 square feet building, fully leased to BBB rating tenant, NextDay Blinds, who has been in this location for 20 years. The tenant signed a new 5-year extend lease term starting on February 1, 2020. In addition, there is a 1.12 acre vacant land adjacent to the retail property. The vacant land currently zoned commercial zone, however, it offers a potential 13-large luxury townhouse development with conceptual plan approved.
Furthermore, the location is nestled in the center of Fairfax, a suburban expanse of Washington DC metro region. The location is a truly oasis, unique and brimming with vitality that recently has been recognized by Forbes as one of the top places to live in the nation.
DEVELOPMENT OVERVIEW
PART 1
Potential Future Residential
• 11004 & 11006 Park Road
• Parcel 1 Lot Size: 1.12 Acres
• Potential of 13 Town Homes
to be built.
• Avg Size: Up to 2,100 Sq Ft (varies)
• Conceptual Plan Approved
PART 2
NNN Retail
• 11085 Lee Highway
• Lot Size: 0.34 Ares (14,810 Sq Ft)
• Building Size: 5,250 Sq Ft
• Single Free-Standing
• Long-term Tenant (Stable Income)
TENANT OVERVIEW: NextDay Blinds
ABOUT TENANT
Founded in 1993, NextDay Blinds is a local business devoted to providing premium-quality, fully custom window coverings in a matter of days, rather than weeks. Their headquarters and state-of-the-art manufacturing facility are located in Jessup, MD, just 25 miles from Washington, DC, and 15 miles from Baltimore, MD. They are a family of more than 400 regional employees, and take great pride in supporting the local economy and giving back to the community. With a fully integrated, end-to-end business model, they are able to provide a more customer-focused experience. This level of integration is designed to ensure the customers’ ongoing happiness, and it helps match their passion for high-quality products with an uncompromised dedication to customer service.
TERM INFORMATION
• Monthly Income: $17,071.03
• Annual Income: $204,852.35
• Annual Escalation: 3%
• Renew Option: 2 Term of Five Years
• Years in Location: 20 Years
• Possibility of Renew: High
• Landlord’s Responsibily: None
LOCATION
HIGHLIGHTS
• Conveniently located in the intersection of Route 50, Route 29 & Route 66
• Rt. 29 & Rt. 50 alone, records an average of more than 30,000 VPD (Vehicles Per Day)
• Walking distance to ample restaurants, shopping centers, and retails.
• Approximate to Fair Oaks Mall, Fairfax Government Center, Wegmans, Walmart, Costco & Lowe's
• Excellent commute!
• Exceptional opportunity w/appreciable return!
DEMOGRAPHICS
• Population: 56,961
• People Per Household: 2.6
• Median Household Income: $119,635
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