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Meadowbrook Plaza 5718-5758 Hopkins Rd 140,172 SF 100% Leased Retail Building North Chesterfield, VA 23234 $23,000,000 ($164.08/SF) 6.98% Cap Rate
Investment Highlights
- Walmart Neighborhood Market anchors the center on a long term ground lease
- Marshalls is a relocation from nearby Meadowdale Center, demonstrating the strength of the subject property’s prime location within the trade area
- New national QSR currently under development at the hard corner (may be available separately; contract Broker for more details)
- Marshalls (TJX) and Burlington recently signed 10 year leases and are now open for business
- Two outparcel buildings (NAP) have recently signed new leases, further underscoring the strong tenant demand for the property
- Meadowbrook Plaza attracted 2 million visitors last year, prior to Marshalls and Burlington opening for business (source: Placer.ai)
Executive Summary
Meadowbrook Plaza is Anchored by Walmart Neighborhood Market and recently added Burlington and Marshalls to the tenant roster. Marshalls relocated from Meadowdale Center, the nearest competing grocery anchored center. The center has undergone major recent renovations, including new roofs, structural work, new signage and facade.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
140,172 SF
Building Class
C
Year Built
1965
Price
$23,000,000
Price Per SF
$164.08
Cap Rate
6.98%
NOI
$1,604,834
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.25
Lot Size
13.13 AC
Zoning
C-3 - Commercial Development
Parking
323 Spaces (1.98 Spaces per 1,000 SF Leased)
Fairly walkable
40/100
Exceptionally drivable
100/100
Somewhat bikeable
20/100
Nearby Major Retailers
1 of 9
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