235 E Mercury Blvd - Freestanding FOR SALE


Hampton, VA 23669
$3,733,000 USD
214-560-6900
235 E Mercury Blvd, Hampton, VA for Sale
$3,733,000 USD
Freestanding - FOR SALE
1/8
null | 9% Cap Rate

235 E Mercury Blvd
Hampton, VA 23669


HIGHLIGHTS

  • New, 5-Year Lease | Scheduled Rental Increases
  • NNN Lease | Fee Simple Ownership | Minimal Landlord Responsibilities
  • Signalized, Hard Corner Intersection | Hampton University (4,200+ Students) | Phoebus High School
  • Strong Demographics In 5-Mile Trade Area

OVERVIEW

• Dollar Tree has agreed to a 5-year lease to backfill the property after the the expiration of the Walgreens lease in April 2028, bringing the remaining term to over 7 years • The lease features $0.50/SF/YR rental increases at the beginning of each option period • The in-place Walgreens lease is Absolute NNN, allowing for zero landlord obligations until the expiration of their lease in 2028

FOR SALE DETAILS

PRICE

$3,733,000 USD

PRICE/SF

$274 USD /SF

CAP RATE

9%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Dollar Tree

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2003

SPRINKLERS

-

PARKING SPACES

64

LAND DETAILS

LAND ACRES

1.46 AC

LAND SF

63,467 SF

ZONING

C-1

APN/PARCEL ID

12003541

ASK ABOUT THIS PROPERTY

Michael KaplanSRS Real Estate PartnersMore Info
214-560-6900

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

Michael KaplanSRS Real Estate PartnersMore Info
214-560-6900

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