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2090 Princess Anne Rd - Sandbridge Place 6,390 SF Retail Condo Unit Offered at $1,600,000 in Virginia Beach, VA 23456
Investment Highlights
- Prime location situated in a high-traffic area near major retailers like Harris Teeter and FOod Lion ensuring strong visibility and foot traffic.
- Purpose-built facility designed specifically for Anytime Fitness aligning with franchise standards.
- Strong surrounding demographics located in an area with high household incomes, supporting long-term business viability.
- Established tenant, Anytime Fitness franchise with a long-term lease, including two five-year extensions option providing stable income for investors.
- Newer construction built in 2016, offering modern infrastructure and minimal maintenance concerns.
- Listed below appraised value presenting a potential value opportunity for buyers.
Executive Summary
Sandbridge Place is a single-story retail center totaling approximately 15,325 sf constructed in 2016. Of that, 6390 sf was specifically built for Anytime Fitness franchise. The property is strategically located between a Food Lion anchored shopping center at the corner of Princess Anne and Sandbridge Road, and a CHKD pediatric office. It is also situated across from Sandbridge Commons, a Harris Teeter-anchored center, benefiting from strong household incomes in the surrounding area. Currently, Suite 100 is occupied by an Anytime Fitness franchise, which is the anchor of this retail center.
1 Unit Available
- Unit
- Unit Size
- Condo Use
- Price
- NOI
| Sale Type | Investment | No. Parking Spaces | 100 |
| Cap Rate | 6.78% |
| Sale Type | Investment |
| Cap Rate | 6.78% |
| No. Parking Spaces | 100 |
Description
Prime investment opportunity! This business condominium was purpose-built for an Anytime Fitness franchise by its original owner, who is the owner of the unit now for sale. The current franchisee holds a lease through 2029 with two additional five-year extension options, ensuring long term stability and positive cash flow.
Key features:
Four bathrooms; two with showers
Built to Anytime Fitness franchise specifications
Listed at $1.9 million - below appraised value
This is a strong investment in a growing market area.
Key features:
Four bathrooms; two with showers
Built to Anytime Fitness franchise specifications
Listed at $1.9 million - below appraised value
This is a strong investment in a growing market area.
Sale Notes
Prime investment opportunity! This business condominium was purpose-built for an Anytime Fitness franchise by its original owner, who is the owner of the unit now for sale. The current franchisee holds a lease through 2029 with two additional five-year extension options, ensuring long term stability and positive cash flow.
Key features:
Four bathrooms; two with showers
Built to Anytime Fitness franchise specifications
Listed at $1.9 million - below appraised value
This is a strong investment in a growing market area.
Key features:
Four bathrooms; two with showers
Built to Anytime Fitness franchise specifications
Listed at $1.9 million - below appraised value
This is a strong investment in a growing market area.
| Unit | Unit Size | Condo Use | Price | NOI |
| Unit 1 | 6,390 SF | Retail | $1,600,000 ($250.39/SF) | $108,521 |
Unit 1
| Unit Size |
| 6,390 SF |
| Condo Use |
| Retail |
| Price |
| $1,600,000 ($250.39/SF) |
| NOI |
| $108,521 |
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Unit 1
| Unit Size | 6,390 SF |
| Condo Use | Retail |
| Price | $1,600,000 ($250.39/SF) |
| NOI | $108,521 |
| Sale Type | Investment |
| Cap Rate | 6.78% |
| No. Parking Spaces | 100 |
| Description | |
| Prime investment opportunity! This business condominium was purpose-built for an Anytime Fitness franchise by its original owner, who is the owner of the unit now for sale. The current franchisee holds a lease through 2029 with two additional five-year extension options, ensuring long term stability and positive cash flow. <br> Key features:<br> Four bathrooms; two with showers<br> Built to Anytime Fitness franchise specifications<br> Listed at $1.9 million - below appraised value<br> <br> This is a strong investment in a growing market area.</li></ul> | |
| Sale Notes | |
| Prime investment opportunity! This business condominium was purpose-built for an Anytime Fitness franchise by its original owner, who is the owner of the unit now for sale. The current franchisee holds a lease through 2029 with two additional five-year extension options, ensuring long term stability and positive cash flow. <br> Key features:<br> Four bathrooms; two with showers<br> Built to Anytime Fitness franchise specifications<br> Listed at $1.9 million - below appraised value<br> <br> This is a strong investment in a growing market area.</li></ul> |
Property Facts
The following property facts and amenities apply to the entire building. Details for individual condo units may vary and are listed in the unit information above.
| Total Building Size | 6,390 SF | Floors | 1 |
| Property Type | Retail (Condo) | Typical Floor Size | 6,390 SF |
| Property Subtype | Year Built | 2016 | |
| Building Class | B | Lot Size | 1.73 AC |
| Zoning | B-2 - Business | ||
| Total Building Size | 6,390 SF |
| Property Type | Retail (Condo) |
| Property Subtype | |
| Building Class | B |
| Floors | 1 |
| Typical Floor Size | 6,390 SF |
| Year Built | 2016 |
| Lot Size | 1.73 AC |
| Zoning | B-2 - Business |
Amenities
- 24 Hour Access
- Dedicated Turn Lane
- Freeway Visibility
- Security System
- Signage
- Tenant Controlled HVAC
- Wheelchair Accessible
- Storage Space
- Monument Signage
- Air Conditioning
- Fiber Optic Internet
- Smoke Detector
Fairly walkable
40/100
Exceptionally drivable
100/100
Moderately bikeable
60/100
Major Tenant Information Click Here to Access
| TENANT | SF Occupied | LEASE END DATE |
|---|---|---|
| Anytime Fitness |
-
|
Jan 0000
|
Nearby Major Retailers
1 of 3
Videos
Matterport 3D Exterior
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Photos
Street View
Street
Map
Contact the Sale Advisor
2090 Princess Anne Rd - Sandbridge Place