2090 Princess Anne Rd - Storefront CONDO FOR SALE


Virginia Beach, VA 23456
$1,700,000 USD
757-303-0503
2090 Princess Anne Rd, Virginia Beach, VA for Sale
$1,700,000 USD
Storefront CONDO - FOR SALE
1/6
null | 6.38% Cap Rate

2090 Princess Anne Rd
Virginia Beach, VA 23456


HIGHLIGHTS

  • Prime location situated in a high-traffic area near major retailers like Harris Teeter and FOod Lion ensuring strong visibility and foot traffic.
  • Established tenant, Anytime Fitness franchise with a long-term lease, including two five-year extensions option providing stable income for investors.
  • Purpose-built facility designed specifically for Anytime Fitness aligning with franchise standards.
  • Newer construction built in 2016, offering modern infrastructure and minimal maintenance concerns.
  • Strong surrounding demographics located in an area with high household incomes, supporting long-term business viability.
  • Listed below appraised value presenting a potential value opportunity for buyers.

OVERVIEW

Prime investment opportunity! This business condominium was purpose-built for an Anytime Fitness franchise by its original owner, who is the owner of the unit now for sale. The current franchisee holds a lease through 2029 with two additional five-year extension options, ensuring long term stability and positive cash flow. Key features: Four bathrooms; two with showers Built to Anytime Fitness franchise specifications Listed at $1.9 million - below appraised value This is a strong investment in a growing market area.

FOR SALE DETAILS

PRICE

$1,700,000 USD

PRICE/SF

$266 USD /SF

CAP RATE

6.38%

# OF UNITS

1

CONDO SIZE

-

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Sandbridge Place

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

ADD'L SUBTYPES

Health Club

TOTAL BUILDING SIZE

6,390 SF

STORIES

1

BUILDING CLASS

B

YEAR BUILT

2016

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.73 AC

LAND SF

75,359 SF

ZONING

B-2

APN/PARCEL ID

2414-22-1035

ASK ABOUT THIS PROPERTY

Phyllis MihalasSwell Real Estate CoMore Info
757-303-0503

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Phyllis MihalasSwell Real Estate CoMore Info
757-303-0503

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