22468 Lankford Hwy - Bank FOR SALE


Cape Charles, VA 23310
$1,709,024 USD
847-562-8500
22468 Lankford Hwy, Cape Charles, VA for Sale
$1,709,024 USD
Bank - FOR SALE
1/2
null | 6.25% Cap Rate

22468 Lankford Hwy
Cape Charles, VA 23310


HIGHLIGHTS

  • Long-Term Lease Through September 2040 - 1.50% annual escalations in the primary term, increasing to 2.00% annually during the option periods.
  • Absolute NNN lease – zero landlord responsibilities.
  • Investment-Grade Tenant (KBRA: A-) - A- rating from KBRA, affirmed Stable in October 2025, providing institutional-quality credit behind the lease.
  • Largest Bank Headquartered in Virginia - After the April 2025 Sandy Spring Bancorp acquisition, AUB operates ~190 branches across VA, MD, and NC.
  • Food Lion-Shadow Anchor: The property is adjacent to the Cape Charles Shopping Center (40,900 SF), anchored by Food Lion

OVERVIEW

The Boulder Group is pleased to exclusively market for sale a single tenant net leased Atlantic Union Bank located in Cape Charles, Virginia. Atlantic Union Bank is currently operating on a long-term NNN lease through September 2040, with approximately 14 years of remaining term. The subject lease presents zero landlord responsibilities. Additionally, there are 1.50% annual rent escalations throughout the remaining primary term and three 5-year renewal options with 2.00% annual rent increases. The lease is backed by a corporate guarantee from Atlantic Union Bankshares Corporation (NYSE: AUB), the largest bank headquartered in Virginia. Atlantic Union Bank maintains a KBRA: A- investment grade credit rating. The 3,646 square-foot building is positioned along US-13/Lankford Highway, the primary commercial artery of Virginia’s Eastern Shore and the principal gateway corridor connecting the Delmarva Peninsula to Hampton Roads via the Chesapeake Bay Bridge-Tunnel. The property is adjacent to the Cape Charles Shopping Center, a 40,900 square-foot neighborhood retail center anchored by Food Lion, with a Dollar Tree also situated on the same commercial corridor. Cape Charles is home to Bay Creek Resort & Club, a master-planned Chesapeake Bay waterfront community featuring championship golf courses designed by Arnold Palmer and Jack Nicklaus, which received new ownership and signi?cant capital investment beginning in July 2025. The property is approximately 40 miles from Norfolk International Airport (ORF) via the Chesapeake Bay Bridge-Tunnel, connecting the Eastern Shore to the broader Hampton Roads region. Within 5 miles of the property, residents earn an average household income exceeding $94,000. Atlantic Union Bank is a full-service regional commercial bank headquartered in Richmond, Virginia, and a wholly owned subsidiary of Atlantic Union Bankshares Corporation (NYSE: AUB). Following its April 2025 acquisition of Sandy Spring Bancorp, Atlantic Union Bank became the largest bank headquartered in Virginia, operating approximately 190 branches across Virginia, Maryland, and North Carolina with approximately $37.6 billion in total assets and reporting net income of $261.8 million in ?scal year 2025. The bank carries a KBRA: A- investment grade credit rating, affirmed in October 2025 with a Stable outlook.

FOR SALE DETAILS

PRICE

$1,709,024 USD

PRICE/SF

$330 USD /SF

CAP RATE

6.25%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Atlantic Union Bank

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Bank

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2008

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

2 AC

LAND SF

87,120 SF

ZONING

-

APN/PARCEL ID

84-24-1A

ASK ABOUT THIS PROPERTY

Jimmy GoodmanThe Boulder GroupMore Info
847-562-8500

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

Jimmy GoodmanThe Boulder GroupMore Info
847-562-8500

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