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Dollar Tree 235 E Mercury Blvd 14,490 SF Retail Building Hampton, VA 23669 $2,250,000 ($155.28/SF) 8% Cap Rate
INVESTMENT HIGHLIGHTS
- New, 5-Year Lease | Options To Extend | Uncapitalized Rent
- Signalized, Hard Corner Intersection | Hampton University (4,200+ Students) | Phoebus High School
- NNN Lease | Fee Simple Ownership | Minimal Landlord Responsibilities
- Strong Demographics In 5-Mile Trade Area
EXECUTIVE SUMMARY
• Dollar Tree has agreed to a 5-year lease to backfill the property after the the expiration of the Walgreens lease in April 2028, bringing the remaining term to over 7 years
• The lease features $0.50/SF/YR rental increases at the beginning of each option period
• Pricing is based on the year 1 NOI of the Dollar Tree lease, allowing investors to benefit from uncapitalized Walgreens rent through 4/30/2028
• The in-place Walgreens lease is Absolute NNN
• The lease features $0.50/SF/YR rental increases at the beginning of each option period
• Pricing is based on the year 1 NOI of the Dollar Tree lease, allowing investors to benefit from uncapitalized Walgreens rent through 4/30/2028
• The in-place Walgreens lease is Absolute NNN
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
14,490 SF
Building Class
C
Year Built
2003
Price
$2,250,000
Price Per SF
$155.28
Cap Rate
8%
NOI
$180,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.23
Lot Size
1.46 AC
Zoning
C-1
Parking
64 Spaces (4.42 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Bus Line
- Dedicated Turn Lane
- Pylon Sign
- Signage
- Signalized Intersection
- Drive Thru
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 12003541 | Improvements Assessment | $3,056,400 |
| Land Assessment | $1,294,200 | Total Assessment | $4,350,600 |
PROPERTY TAXES
Parcel Number
12003541
Land Assessment
$1,294,200
Improvements Assessment
$3,056,400
Total Assessment
$4,350,600
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Dollar Tree | 235 E Mercury Blvd
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