1024 N Eden Way - Restaurant FOR SALE


Chesapeake, VA 23320
$4,395,000 USD
407-913-9009
1024 N Eden Way, Chesapeake, VA for Sale
$4,395,000 USD
Restaurant - FOR SALE
1/5
null | 6.5% Cap Rate

1024 N Eden Way
Chesapeake, VA 23320


HIGHLIGHTS

  • The tenant is responsible for all Taxes, CAM, and insurance, providing no landlord ownership responsibilities.
  • The lease calls for rental increases of 10% every five years including the option periods.
  • The property is conveniently located near Interstate 64, offering direct access to Norfolk, Virginia Beach
  • Additional national retailers in the area include Chick Fil’a, Walmart Super Center, TJ Maxx, Target, and Raising Cains.

OVERVIEW

Remaining 14 year lease with Red Robin, one of the most recognized national brand in the casual dining industry., with more than 500 restaurants across the United States and Canada. The site is a pad to Greenbrier Mall, the dominant retail center, providing superior visibility and access compared to other restaurants in the submarket. Chesapeake is centrally located within the Hampton Roads metropolitan area, with an average household income of $94,947 within 5 miles of the site. Proximity to Eden Way North, a well-traveled local road, ensures ease of access for customers arriving by car or public transportation.

FOR SALE DETAILS

PRICE

$4,395,000 USD

PRICE/SF

$688 USD /SF

CAP RATE

6.5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Red Robin

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

ADD'L SUBTYPES

Fast Food, Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2004

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

CROSS STREETS

none

LAND ACRES

1.59 AC

LAND SF

69,260 SF

ZONING

PUD: PLANN

APN/PARCEL ID

0280000000801

ASK ABOUT THIS PROPERTY

Connor ShellStream Capital PartnersMore Info
407-913-9009

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Connor ShellStream Capital PartnersMore Info
407-913-9009

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.