22468 Lankford Hwy
Cape Charles, VA 23310
Atlantic Union Bank · Retail Property For Sale

The Boulder Group is pleased to exclusively market for sale a single tenant net leased Atlantic Union Bank located in Cape Charles, Virginia. Atlantic Union Bank is currently operating on a long-term NNN lease through September 2040, with approximately 14 years of remaining term. The subject lease presents zero landlord responsibilities. Additionally, there are 1.50% annual rent escalations throughout the remaining primary term and three 5-year renewal options with 2.00% annual rent increases. The lease is backed by a corporate guarantee from Atlantic Union Bankshares Corporation (NYSE: AUB), the largest bank headquartered in Virginia. Atlantic Union Bank maintains a KBRA: A- investment grade credit rating.
The 3,646 square-foot building is positioned along US-13/Lankford Highway, the primary commercial artery of Virginia’s Eastern Shore and the principal gateway corridor connecting the Delmarva Peninsula to Hampton Roads via the Chesapeake Bay Bridge-Tunnel. The property is adjacent to the Cape Charles Shopping Center, a 40,900 square-foot neighborhood retail center anchored by Food Lion, with a Dollar Tree also situated on the same commercial corridor. Cape Charles is home to Bay Creek Resort & Club, a master-planned Chesapeake Bay waterfront community featuring championship golf courses designed by Arnold Palmer and Jack Nicklaus, which received new ownership and signi?cant capital investment beginning in July 2025. The property is approximately 40 miles from Norfolk International Airport (ORF) via the Chesapeake Bay Bridge-Tunnel, connecting the Eastern Shore to the broader Hampton Roads region. Within 5 miles of the property, residents earn an average household income exceeding $94,000.
Atlantic Union Bank is a full-service regional commercial bank headquartered in Richmond, Virginia, and a wholly owned subsidiary of Atlantic Union Bankshares Corporation (NYSE: AUB). Following its April 2025 acquisition of Sandy Spring Bancorp, Atlantic Union Bank became the largest bank headquartered in Virginia, operating approximately 190 branches across Virginia, Maryland, and North Carolina with approximately $37.6 billion in total assets and reporting net income of $261.8 million in ?scal year 2025. The bank carries a KBRA: A- investment grade credit rating, affirmed in October 2025 with a Stable outlook.