Petersburg, Virginia – We have information this afternoon on a Net Lease Investment. This Net Lease Investment was purchased in Petersburg, Virginia. Petersburg is about 25 miles south of Richmond, Virginia, a nice area for net lease properties. This purchase of a net lease property closed at $927,350. The Tenant of this Investment property is Dollar General.
The Net Lease Investment is a 9,014 Square feet free-standing retail property. This net lease property is currently leased to Dollar General Corporation on a long-term, net lease basis. We are seeing some decent Cap Rates on Net Lease Properties with Dollar General as Tenant.
The Buyer of this Net Lease Investment property was a private, 1031-exchange buyer who was seeking a stable and passive investment. A 1031 exchange, also known as a 1031 tax deferred exchange is a simple strategy and method for selling one property, that’s qualified, and then proceeding with an acquisition of another property (also qualified) within a specific time frame.
We have heard numerous definitions of “like-kind” properties for a 1031-Exchange. The requirement of the acquisition of property to be utilized in the same form as the exchange property. There are currently 2 types of properties that qualify as a like-kind such as a Property held for investment or a Property held for a productive use. This might be used in a trade or business.
Feel free to Contact us HERE to sell your existing Net Lease Properties portfolio. We have relationships with 1,000’s of commercial real estate investors interested in purchasing net lease investments. We provide tremendous marketing and exposure for your net lease properties, resulting in the highest pricing and quicker closings.
If you are ready to purchase a Net Leased Property, Loanrise.com can assist you with CTL Financing or Commercial Loans or Mezzanine Loans.
