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303 Queen St 14,000 SF 100% Leased Retail Building Tappahannock, VA 22560 $1,450,000 ($103.57/SF) 8.13% Cap Rate
Investment Highlights
- Price Reduction!
- NN Burger – award-winning restaurant and anchor tenant
- Drive-in basement leased to a machine shop
- Multi-Tenant, 14,000± SF mixed-use building – retail, office, and industrial components
- 100% occupied with long-term tenants and reliable cash flow
- Excellent downtown location with strong visibility and local character
Executive Summary
Coldwell Banker Commercial Brooks Real Estate is pleased to offer an income-stabilized, 14,000± SF multi-tenant mixed-use property in the heart of Downtown Tappahannock—a proven location with limited comparable inventory. Price recently reduced by $150,000.
Three-Level, Fully Leased: Drive-in basement for a long-standing machine shop, main-level retail tenants, and third-floor offices provide diversified income and reduced tenant concentration risk.
Anchor Tenant: NN Burger, a regional draw and repeat Virginia’s Best Burger winner, ensures consistent foot traffic and strong brand recognition.
Additional Tenants: Fitz Cabinetry, Chesapeake Governor’s School, and For His Glory Ministries deliver stable tenancy backed by local and institutional demand.
Well-Maintained & Cash Flow Positive: No deferred maintenance, immediate income, with embedded value-add potential through future rent optimization.
Prime Downtown Exposure: High-visibility murals, historic downtown location, pedestrian traffic, and destination retail enhance curb appeal, tenant retention, and long-term demand.
303 Queen Street offers durable cash flow today and upside for NOI growth tomorrow.
Drone video link below.
Three-Level, Fully Leased: Drive-in basement for a long-standing machine shop, main-level retail tenants, and third-floor offices provide diversified income and reduced tenant concentration risk.
Anchor Tenant: NN Burger, a regional draw and repeat Virginia’s Best Burger winner, ensures consistent foot traffic and strong brand recognition.
Additional Tenants: Fitz Cabinetry, Chesapeake Governor’s School, and For His Glory Ministries deliver stable tenancy backed by local and institutional demand.
Well-Maintained & Cash Flow Positive: No deferred maintenance, immediate income, with embedded value-add potential through future rent optimization.
Prime Downtown Exposure: High-visibility murals, historic downtown location, pedestrian traffic, and destination retail enhance curb appeal, tenant retention, and long-term demand.
303 Queen Street offers durable cash flow today and upside for NOI growth tomorrow.
Drone video link 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
$1,450,000
Price Per SF
$103.57
Cap Rate
8.13%
NOI
$117,896
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)
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
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Photos
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303 Queen St
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