This property is Off-Market

1808 Salem Road
Virginia Beach, VA 23456 ·

13,813 SF · Retail For Sale

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Rite Aid Store with Drive-thru

Price N/A Occupancy 100%
Building Size 13,813 SF Tenancy Single
Property Type Retail Year Built 2004
Property Sub-type Free Standing Bldg Lot Size 2.30 AC
Property Use Type Net Lease Investment with 10+ years left on lease APN / Parcel ID 1475-92-4954-0000
Commission Split 3%
Listing ID: 17852953 Date Created: 09/28/2012 Last Updated: 05/02/2013

Description

Freestanding Rite Aid with Drive-thru, offered at 8.5% cap rate

Located at the signalized intersection of Independence Boulevard and Salem Road, with 350 ft frontage on Independence and 420 ft frontage, two curb cuts and dedicated turn lane on Salem Rd-13,813 sq ft structure on 2.296 acres-Eleven (11 years remaining on initial term (exp 12/31/23) with four (4) five-year renewals-Excellent location at signalized intersection of Independence Boulevard and Salem RoadIndependence 17,645 vpd, Salem 11,834 vpd-2011 demographics three-mile radius: 111,990 population; 39,202 households-Freestanding Navy Federal Credit Union on adjacent lot-Solid brick construction built in 2004

Highlights

  • Eleven (11) years remaining on initial term (exp 12/31/23) with four (4) five-year renewals
  • Excellent location at signalized intersection of Independence Boulevard and Salem Road
  • Independence 17,645 vpd, Salem 11,834 vpd
  • 2011 demographics three-mile radius: 111,990 population; 39,202 households
  • Freestanding Navy Federal Credit Union on adjacent lot
  • Solid brick construction built in 2004

Research

1808 Salem Road, Virginia Beach, VA 23456 (Virginia Beach City County)

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