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Views: 65 Updated: 11.14.24 Posted: 07.10.24 Status: Inactive 11.14.24

Summary

Price $876,000
Built/Renov 1977/2022
Tenant Tobacco & Vape
Cap Rate 8.00%
Lease Type NN+
Guarantor Corporate
Size/SF 2,203
Lease Start 07-01-2022
#Units 1
Price/SF $397.64
Expiration 07-01-2027
Tenant Type General Retail
NOI $70,115
R. Term 2.7
Ownership Fee Simple
Rent/SF $31.83
Increases 3.0%/1/yrs
Pop 5Mi 326,627
Lot/AC 0.55
Options 0/0yrs
AHHI 5Mi $98,852

Lease Highlights

  • Tobacco & Vape has 2+ years remaining on the current lease term with no options remaining
  • The lease features 3% annual rental escalations throughout the initial term
  • Favorable NN+ lease with landlord responsible for roof and structure
  • Corporate guaranteed lease

Location Description

Tobacco & Vape is strategically located on Princess Anne Road, with access to 31,000 vehicles passing by daily. The property serves as an outparcel to Kempsville Plaza Shopping Center, anchored by Food Lion, which ranks in the top 67% of all U.S. grocery stores (13,297 out of 41,538). The immediate area is surrounded by well-known national tenants including Kroger, T.J. Maxx, Dollar Tree,...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Tobacco & Vape
  • Guarantor:Corporate
  • Company:Tobacco & Vape
  • # Units:1
  • Stock:Private

About Tenant

Tobacco & Vape is a specialized retail store offering a wide range of tobacco and vape products. Conveniently located on Princess Anne Road in Virginia Beach, the store caters to a diverse...


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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 14,418 135,273 326,383
2024 Total Population : 14,613 132,301 325,734
2024 Employed Civilian Pop : 7,572 70,754 171,275
2024 Total Businesses : 578 6,461 12,960
2024 Average Household Income : $ 103,218 $ 95,768 $ 101,331
2024 Total Consumer Spending : $ 511 M $ 4502 M $ 11366 M
2024 Median Age : 39 37 37
2024 Total Households : 5,711 53,557 128,064
2024 Pop Age 25+: Bachelor's Degree : 2,530 22,813 51,323
2024 Average Home Value : $ 413,419 $ 408,092 $ 427,226
*ESRI data is presented for informational purposes only

Listing Broker

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