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Off Market
1/2

2524 Chesapeake Square Ring Rd
Chesapeake, VA 23321


HIGHLIGHTS

  • CAP Changes to 6.9% in 2025 with Base Term Increase
  • Red Robin Absolute NNN Ground Lease with 11.5 Years Remaining in Chesapeake, VA (Norfolk MSA)
  • Corporate, Non-Franchised Lease/Operator; Red Robin International, Inc. Lessee Entity
  • Tenant Demonstrated Very Strong Commitment to Site via Early-Extending Lease for 10 Years thru January 2035 with Minimal Inducement from Landlord
  • 8% Rent Increase in 2025 Adds 50 bps to CAP Rate; +100 bps to CAP Rate by End of Current Term with 2030 Rent Increase
  • Outparcel to Chesapeake Center – 277,000 SF Regional Draw Open-Air Shopping Center with Value City Furniture, Gabe’s, Big Lots, PetSmart, Dollar Tree,

FOR SALE DETAILS

PRICE

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CAP RATE

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% LEASED

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TENANCY

-

BUILDING DETAILS

PROPERTY NAME

Red Robin Ground Lease | 10-Yr Early Ext

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

ADD'L SUBTYPES

Freestanding, Storefront

TOTAL BUILDING SIZE

6350

STORIES

1

YEAR BUILT

2004

SPRINKLERS

-

PARKING SPACES

104

LAND DETAILS

LAND ACRES

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LAND SF

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ZONING

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APN/PARCEL ID

0106009000083