1118 Courthouse Rd - Fast Food FOR SALE


Richmond, VA 23236
$2,929,967 USD
202-847-4200
1118 Courthouse Rd, Richmond, VA for Sale
$2,929,967 USD
Fast Food - FOR SALE
1/5
null | 6% Cap Rate

1118 Courthouse Rd
Richmond, VA 23236


HIGHLIGHTS

  • Brand-New Lease
  • New Build-Out & Drive-Trhu
  • Rare Self-Maintaining Lease
  • Attractive Rent Increases
  • Investment Grade Credit
  • Strategic Location

OVERVIEW

Horvath & Tremblay is pleased to present the exclusive sale of a corporate leased Starbucks investment property located at 1118 Courthouse Road in Cheseterfield, Virginia (the “Property”). Starbucks recently signed a brand-new, 10-year lease that runs through August 2034, and is followed by six (6), 5-year renewal options. The lease features attractive 10% rent increases every five years throughout the primary lease term and at the start of each renewal option. Starbucks is situated as a pad site to a Food Lion-anchored shopping center, which sits at the signalized intersection of Courthouse Road and Lucks Lane. Courthouse Road is well-trafficked, and the location is surrounded by densely populated, affluent neighborhoods, that provide an ideal consumer base and consistent demand. Additionally, Courthouse Road leads directly to the Chesterfield Towne Center shopping mall and surrounding trade area, just minutes north of the Property, and featuring major retail destinations including Costco, Walmart, Sam’s Club, multiple grocers, and many others. Starbucks is 10 miles southeast of the state capital, Richmond.

FOR SALE DETAILS

PRICE

$2,929,967 USD

PRICE/SF

$1,091 USD /SF

CAP RATE

6%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Starbucks

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Fast Food

ADD'L SUBTYPES

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2000

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.3 AC

LAND SF

56,628 SF

ZONING

-

APN/PARCEL ID

744-69-77-76-500-000

ASK ABOUT THIS PROPERTY

Kyle DanielsonHorvath & TremblayMore Info
202-847-4200

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Kyle DanielsonHorvath & TremblayMore Info
202-847-4200

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.