2901 Jefferson Ave - Freestanding FOR SALE


Newport News, VA 23607- Jefferson
$1,848,500 USD
914-582-8281
2901 Jefferson Ave, Newport News, VA for Sale
$1,848,500 USD
Freestanding - FOR SALE
1/5
null | 7% Cap Rate

2901 Jefferson Ave
Newport News, VA 23607
Jefferson


HIGHLIGHTS

  • 6.5+ Years Remaining | Corporate Guaranteed Lease.
  • Absolute NNN Lease Structure | Zero Landlord Responsibilities.
  • High Performing Location | Top 13% of Stores Throughout the State of Virginia.
  • Prime Outparcel Location to Brooks Crossing | $18.3M Mixed Use Development.

OVERVIEW

SAB Capital is pleased to present the exclusive offering of a single-tenant, net-leased Family Dollar located in Newport News, VA. This exceptional investment is secured by an absolute triple net (NNN) lease with over 6 years of remaining term along with 10% increases in 2027 and every 5 successvie years with six 5-year options. Family Dollar now operates within a combined network of over 13,600 stores across 48 U.S. states and five Canadian provinces under the Dollar Tree and Family Dollar banners. With $17.6B in sales in 2024 and a BBB credit rating from S&P and a Baa2 rating from Moody's, Dollar Tree is considered an investment grade tenant. Strategically located in Newport News, the property benefits from superior visibility, signage and access with traffic counts exceeding 10,500 vehicles per day. The nearby surrounding retail space includes national tenants such as McDonald's, Burger King, Dunkin', Wendy's, Hardee's, LongHorn Steakhouse, Cava, and many others. With its strong real estate fundamentals, triple-net lease structure, corporate guarantee and premier location, this offering truly represents a passive, low-risky opportunity. 6.5+ Years Remaining | Corporate Guaranteed Lease Family Dollar has over 6.5-Years of lease term on a 15-Year lease with six (6) 5-year extension options The lease is corporate signed from Family Dollar Stores, Inc. The lease includes 10% rent increases in Year 11, and 10% in each option thereafter Absolute NNN Lease Structure | Zero Landlord Responsibilities Tenant pays for Taxes, Insurance, CAM, and maintains all aspects of the building including roof, structure, and parking lot Zero Landlord Responsibilities Ideal Management Free Asset for a Passive Investor High Performing Location | Top 13% of Stores Throughout the State of Virginia Family Dollar experiences over 150,000 annual visits, and is the 5th most visited store within a 15-mile radius This store ranks in the top 78th percentile of Family Dollars nationwide, and top 87th percentile of Family Dollars throughout Virginia One of Family Dollar's top performing locations throughout the entire country Prime Outparcel Location to Brooks Crossing | $18.3M Mixed Use Development Brooks Crossing is a mixed-use development anchored by a Piggly Wiggly Grocery Store, an features state of the art facilities for STEM Labs, Training Centers, Office Spaces, and Amenities The Town of Newport News invested over $18.3 Million into the project in order the revitalize the Southeast community Family Dollar sits on the entrance to the 100,000+ SF development, and experiences over 10,500+ Vehicles Per Day along Jefferson Avenue

FOR SALE DETAILS

PRICE

$1,848,500 USD

PRICE/SF

$201 USD /SF

CAP RATE

7%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Family Dollar

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Convenience Store, Supermarket, Department Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2016

SPRINKLERS

-

PARKING SPACES

1

LAND DETAILS

LAND ACRES

0.9 AC

LAND SF

39,204 SF

ZONING

C1

APN/PARCEL ID

305.04-04-61

ASK ABOUT THIS PROPERTY

Michael ScaliSAB CapitalMore Info
914-582-8281

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Michael ScaliSAB CapitalMore Info
914-582-8281

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