2328 E Princess Anne Rd
Norfolk, VA 23504
New Dollar Store 125,000 5-Mile Pop Counts! · Retail Property For Sale

Brand New Construction | Corporate Guaranteed | Options To Extend | Scheduled Rental Increases • The lease is corporate guaranteed by Family Dollar Stores, Inc., an investment grade (S&P: BBB-), nationally recognized, and an established discount store with over 8,000+ locations • Family Dollar recently signed a brand new 10-year lease with 6 (5-year) options to extend, demonstrating their long-term commitment to the site • The lease features 5% rental increases at the beginning of each option period, generating NOI and hedging against inflation NN Lease | Fee-Simple Ownership | Limited Landlord Responsibilities • Tenant pays for CAM, taxes, insurance and maintains all aspects of the premises • Landlord responsibilities limited to structural and parking repairs • Investor benefits from fee-simple ownership of the land and building Excellent Street Frontage | Strong Retail Corridor | Excellent Visibility & Access • Family Dollar is Strategically located along East Princess Avenue, a major arterial road, averaging roughly 17,000 vehicles passing by daily • The subject property is situated nearby national/credit tenants such as Church’s Chicken, Citgo, Metro by T-Mobile, Domino’s, Burger King, and more • Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure for this site • The asset benefits from significant street frontage and multiple points of ingress/egress, providing convenience and ease for customers Surrounded By Local Schools | High-Density Housing • The site is surrounded by Local Schools including Norfolk State University (5,600 students), Booker T. Washington High School (1,000 students), David Gilbert Jacox Elementary School, and Richard Bowling Elementary School • Within the 5-mile trade radius is there is approximately 1.09 million households, reflecting a high-density housing area, which will increase customer draw to the store Strong Demographics in 5-mile trade area • More than 284,000 residents and 170,000 employees support the trade area • Features an average household income of $68,100