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Dollar Tree 235 E Mercury Blvd 14,490 SF Retail Building Hampton, VA 23669 $3,733,000 ($257.63/SF) 9% Cap Rate
Investment Highlights
- New, 5-Year Lease | Scheduled Rental Increases
- 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
• The in-place Walgreens lease is Absolute NNN, allowing for zero landlord obligations until the expiration of their lease in 2028
• The lease features $0.50/SF/YR rental increases at the beginning of each option period
• The in-place Walgreens lease is Absolute NNN, allowing for zero landlord obligations until the expiration of their lease in 2028
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
14,490 SF
Building Class
C
Year Built
2003
Price
$3,733,000
Price Per SF
$257.63
Cap Rate
9%
NOI
$336,000
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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