Northern Neck Portfolio 2 Retail Properties Offered at $2,275,000 in Multiple Locations

Coldwell Banker Commercial Brooks Real Estate is proud to present an exclusive opportunity to acquire a two-property investment portfolio featuring stabilized retail and mixed-use assets located in two of Virginia's most established regional markets—the Northern Neck and Middle Peninsula. The properties may be purchased together as a portfolio or individually, providing flexibility for a variety of investment strategies.
This offering pairs the strong downtown presence of 303 Queen Street in Tappahannock with the dominant retail positioning of the Montross Shopping Center, creating a portfolio that delivers dependable cash flow, a diversified tenant mix, and significant future income growth potential. Following a recent combined price reduction of $300,000, the portfolio presents an attractive opportunity to acquire quality commercial real estate at an exceptional basis.
Portfolio Highlights
Exceptional Value-Add Opportunity
The Montross Shopping Center is currently leased at an average rental rate of approximately $8.88 per square foot, substantially below the estimated market rate of $13.00 per square foot. As existing leases renew, investors have a clear opportunity to increase rental income and significantly enhance Net Operating Income (NOI).
Strong, Diversified Tenant Base
Income is supported by a balanced mix of established local businesses, institutional tenants, and long-term occupants. The portfolio is anchored by the award-winning NN Burger, complemented by tenants including Chesapeake Governor's School, Fitz Cabinetry, long-term industrial users, and other stable businesses that provide consistent cash flow.
Stable Investment with Immediate Income
Both properties are fully operational, professionally maintained, and generate positive cash flow from day one. Minimal deferred maintenance and embedded rental growth provide an ideal combination of current income and future appreciation.
Strategic Regional Presence
Gain ownership in two of the most prominent commercial corridors in Essex County and Westmoreland County. These highly visible locations benefit from limited competing inventory, established customer bases, and long-term market stability.
Asset One – Montross Shopping Center | Montross, Virginia
Fully leased neighborhood shopping center producing stable income.
Significant upside through future lease renewals at market rental rates.
Features a primary retail strip along with a separate 3,500 SF rear building occupied by a long-term machine shop tenant, providing additional income diversification.
Excellent visibility and frontage on Kings Highway, the primary commercial corridor serving Westmoreland County.
Asset Two – 303 Queen Street | Tappahannock, Virginia
Approximately 14,000 SF three-story mixed-use investment property.
Includes a drive-in lower level occupied by a machine shop, street-level retail space, and third-floor professional offices.
Anchored by the well-known NN Burger, one of Virginia's most recognized independent restaurant brands, generating consistent customer traffic.
Additional tenants include Fitz Cabinetry, Chesapeake Governor's School, and For His Glory Ministries, creating a well-balanced tenant profile.
Located in the heart of historic downtown Tappahannock with outstanding visibility, attractive streetscape improvements, and strong pedestrian activity.
Investment Opportunity
Opportunities to acquire multiple stabilized commercial assets of this quality within Virginia's Northern Neck and Middle Peninsula are increasingly limited. Whether purchased as a portfolio or individually, these properties offer investors immediate income, diverse tenancy, minimal capital expenditure requirements, and substantial upside through future rent growth. Combined with excellent locations and recent pricing adjustments, this offering represents an outstanding opportunity to establish or expand a commercial investment portfolio in two of the region's most desirable markets.