11601 Midlothian Tpke - Fast Food FOR SALE


Midlothian, VA 23113
$2,126,000 USD
954-245-3416
11601 Midlothian Tpke, Midlothian, VA for Sale
$2,126,000 USD
Fast Food - FOR SALE
1/6
null | 6.35% Cap Rate

11601 Midlothian Tpke
Midlothian, VA 23113


HIGHLIGHTS

  • New, 15-Year, Triple Net (NNN) Ground Lease With 10 Percent Rent Increases Every Five Years Throughout Base Term and Option Periods
  • Brand New Location – Under Construction & Targeting to Open February 1, 2025 – Rent to Commence January 1, 2025
  • Prime Location in a Major Retail Corridor – Catty-Corner from Chesterfield Towne Center, the Largest Enclosed Shopping Mall in the Richmond Market
  • Affluent Community With Household Income Above National Average – $113,264 in One Mile of the Property, and $126,387 in Five Miles
  • Excellent Access and Visibility to More Than 77,0000 Vehicles Daily at a Signalized Intersection of Midlothian Turnpike and Courthouse Road
  • Conveniently Positioned Across from a Planned Mixed-Use Development, Featuring Residential & Retail, Anchored by Whole Foods Market

OVERVIEW

Marcus & Millichap is pleased to present the opportunity to acquire a brand-new 7 Brew Drive-Thru Coffee located in Midlothian, Virginia. This listing offers a brand new, 15-year, triple net ground lease with three, five-year renewal options. There are 10 percent rent increases every five years throughout the base term and option periods. This is a new location, currently under construction and targeting to open February 1, 2025. Rent will commence January 1, 2025. This is a franchise guaranteed lease with Coffee Creamer Ventures, LLC, with personal guarantees from four individuals. 7 Brew Drive-Thru Coffee was founded in 2017 in Fayetteville, Ark. and has over 10,000 employees across 283 locations. Franchise, Coffee Creamer Ventures, LLC has purchased the rights to develop and operate 22 brand-new 7 Brew Drive-Thru Coffee locations in the greater Richmond, Virginia area. Midlothian, Virginia is located in the Richmond metropolitan area. The Subject Property is 12 miles from downtown Richmond, the capital city of Virginia and one of the largest and fastest growing cities in Virginia. The surrounding area has a population of nearly 125,000 within five miles of property and 533,435 in 10 miles. Midlothian is an affluent community with a household income above national average at $113,264 in one mile of the Subject Property, and $126,387 in five miles. The Property has excellent access and visibility to more than 77,0000 vehicles daily at a signalized intersection of Midlothian Turnpike and Courthouse Road. In addition to being a prime location in a major retail corridor, the property is catty-corner from Chesterfield Towne Center, the largest enclosed shopping mall in the Richmond market with 120 retailers. This Property is also conveniently positioned across from a planned mixed-use development, featuring residential and retail, anchored by Whole Foods Market.

FOR SALE DETAILS

PRICE

$2,126,000 USD

PRICE/SF

$4,004 USD /SF

CAP RATE

6.35%

% LEASED

-

TENANCY

Single

STATUS

Under Construction

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

7 Brew Coffee

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Fast Food

ADD'L SUBTYPES

Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2025

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.56 AC

LAND SF

24,394 SF

ZONING

C3

APN/PARCEL ID

740-70-85-55-100-000

ASK ABOUT THIS PROPERTY

Barry WolfeWolfe-Lipsky Retail Group of Marcus & MillichapMore Info
954-245-3416

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Barry WolfeWolfe-Lipsky Retail Group of Marcus & MillichapMore Info
954-245-3416

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