5700-5760 Hopkins Rd - Storefront FOR SALE
Richmond, VA 23234 |
$21,935,000 USD
415-274-2702
5700-5760 Hopkins Rd
Richmond, VA 23234
HIGHLIGHTS
- Walmart Neighborhood Market anchors the center on a long term ground lease
- Marshalls (TJX) and Burlington recently signed 10 year leases and are now open for business
- Two outparcel buildings (NAP) have recently signed new leases, further underscoring the strong tenant demand for the property
- Meadowbrook Plaza attracted 2 million visitors last year, prior to Marshalls and Burlington opening for business (source: Placer.ai)
- There are 149,425 residents within a 5 mile radius and are projected to grow by 8% over the next 5 years
- Ideally located at the off ramp of Chippenham Parkway (VA State Route 150) and benefits from combined traffic counts of 71,930 VPD
OVERVIEW
Meadowbrook Plaza is anchored by Walmart Neighborhood Market and recently added Burlington and Marshalls to the tenant roster. Marshalls relocated from Meadowdale Center, the nearest competing grocery anchored center. The center has undergone major recent renovations, including new roofs, structural work, new signage and facade.
FOR SALE DETAILS
PRICE
$21,935,000 USD
PRICE/SF
$182 USD /SF
CAP RATE
7%
% LEASED
-
TENANCY
Multiple
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY NAME
Meadowbrook Plaza
PROPERTY TYPE
Retail
PROPERTY SUBTYPE
Storefront
TOTAL BUILDING SIZE
-
STORIES
1
YEAR BUILT
1968
SPRINKLERS
-
PARKING SPACES
323
LAND DETAILS
LAND ACRES
13.13 AC
LAND SF
571,943 SF
ZONING
C-3
APN/PARCEL ID
-
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415-274-2702
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415-274-2702
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