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303 Queen St 14,000 SF 100% Leased Retail Building Tappahannock, VA 22560 $1,600,000 ($114.29/SF) 6.49% Cap Rate
INVESTMENT HIGHLIGHTS
- 14,000± SF mixed-use building – retail, office, and industrial components
- 100% occupied with long-term tenants and reliable cash flow
- Drive-in basement leased to a machine shop
- NN Burger – award-winning restaurant and anchor tenant
- Excellent downtown location with strong visibility and local character
EXECUTIVE SUMMARY
Coldwell Banker Commercial Brooks Real Estate is proud to exclusively offer this beautifully maintained 14,000± SF mixed-use building located in the heart of Downtown Tappahannock.
This three-level property features a drive-in basement currently leased to a local machine shop, main-level retail space occupied by NN Burger, Fitz Cabinetry, Chesapeake Governor's School, and For His Glory Ministries as well as a third-floor office space—all producing steady income.
NN Burger, a regional favorite and long-standing community staple, has been voted Virginia’s Best Burger multiple times and serves as a major draw for both locals and visitors. The property’s exterior showcases vibrant murals celebrating Tappahannock pride, enhancing its curb appeal and visibility.
This is a clean, well-kept property offering strong existing cash flow with value-add potential through rent adjustments as leases renew. Located in the historic downtown corridor, 303 Queen Street offers high visibility, pedestrian activity, and a proven tenant mix that supports continued investment success. Link to Drone Video below...
This three-level property features a drive-in basement currently leased to a local machine shop, main-level retail space occupied by NN Burger, Fitz Cabinetry, Chesapeake Governor's School, and For His Glory Ministries as well as a third-floor office space—all producing steady income.
NN Burger, a regional favorite and long-standing community staple, has been voted Virginia’s Best Burger multiple times and serves as a major draw for both locals and visitors. The property’s exterior showcases vibrant murals celebrating Tappahannock pride, enhancing its curb appeal and visibility.
This is a clean, well-kept property offering strong existing cash flow with value-add potential through rent adjustments as leases renew. Located in the historic downtown corridor, 303 Queen Street offers high visibility, pedestrian activity, and a proven tenant mix that supports continued investment success. Link to Drone Video below...
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
14,000 SF
Building Class
B
Year Built
1965
Price
$1,600,000
Price Per SF
$114.29
Cap Rate
6.49%
NOI
$103,873
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.35
Lot Size
0.92 AC
Opportunity Zone
Yes
Zoning
CG-2
Parking
25 Spaces (1.79 Spaces per 1,000 SF Leased)
Frontage
65’ on Queen St
AMENITIES
- Corner Lot
- Restaurant
- Signage
- Tenant Controlled HVAC
- Air Conditioning
- Smoke Detector
PROPERTY TAXES
| Parcel Number | 32B-14-L-1 | Improvements Assessment | $327,100 |
| Land Assessment | $180,400 | Total Assessment | $507,500 |
PROPERTY TAXES
Parcel Number
32B-14-L-1
Land Assessment
$180,400
Improvements Assessment
$327,100
Total Assessment
$507,500
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VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
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303 Queen St
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