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1800 Republic Rd
Virginia Beach, VA 23454
Kroger Plaza · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Kroger anchored investment offering with significant long-term upside
- Affluent and dense customer base with ~$130K+ AHHI & 140K residents within a 5-mile radius
- Limited deferred maintenance
- Hilltop submarket - Virginia Beach's prime retail destination
- Deep discount to replacement cost & exceptional basis
- Substantial economic activity via US Department of Defense (~$68B Annually)
EXECUTIVE SUMMARY
JLL is pleased to present the opportunity to acquire Kroger Plaza, a 67,540 SF grocery anchored retail investment opportunity located in Virginia Beach, VA. The center features a highly secure income stream, with strong growth characteristics and sustainable / below market shop rents averaging ~$21 PSF. Kroger offers investors a rare long-term opportunity to increase base rent by nearly 900% and currently operates on a durable 0.7% occupancy cost.
Please reach out to the deal team to learn more about this opportunity. https://invest.jll.com/be/en/listings/retail/kroger-plaza
Please reach out to the deal team to learn more about this opportunity. https://invest.jll.com/be/en/listings/retail/kroger-plaza
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Building Size
67,540 SF
Building Class
B
Year Built
1997
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Loading Docks
2 Exterior
Building FAR
0.21
Lot Size
7.41 AC
Zoning
B2 - Community Business District
Parking
325 Spaces (4.81 Spaces per 1,000 SF Leased)
AMENITIES
- Pylon Sign
PROPERTY TAXES
| Parcel Number | 2407-69-1178 | Improvements Assessment | $2,824,500 |
| Land Assessment | $2,857,500 | Total Assessment | $5,682,000 |
PROPERTY TAXES
Parcel Number
2407-69-1178
Land Assessment
$2,857,500
Improvements Assessment
$2,824,500
Total Assessment
$5,682,000
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