27490 Southampton Pkwy - Fast Food FOR SALE


Courtland, VA 23837
$1,650,000 USD
424-405-3826
27490 Southampton Pkwy, Courtland, VA for Sale
$1,650,000 USD
Fast Food - FOR SALE
1/7
null | 9.47% Cap Rate

27490 Southampton Pkwy
Courtland, VA 23837


HIGHLIGHTS

  • Absolute Net Leased Dairy Queen Grill & Chill Drive-Thru With Four Years of Base Term Remaining, Four Five-Year Options and 1.5% Annual Rent Increases
  • Long-Term Dairy Queen Location Was Opened in 1988 and Renovated in 2008
  • Lease is Backed by an Operator of 15 Dairy Queen Locations Throughout the Hampton Roads Region
  • Solid Retail Location Along a Major State Route (VA-58) With Traffic Volume Reaching Nearly 22,000 Vehicles Per Day
  • Nearby Tenants Include the DMV, 7-Eleven, Food Lion, the Courtland Inn, and Dollar General, and an 8-Minute Drive to Major Retailers Such as Walmart

OVERVIEW

Marcus & Millichap is pleased to present to market the absolute net leased Dairy Queen Grill & Chill located at 27490 Southampton Parkway in Courtland, Virginia. This long-term Dairy Queen location has been open since 1988 and was renovated in 2008, demonstrating tenant commitment to the location. This store is on an absolute net lease backed by Mid Atlantic Dairy Queen LLC, a franchisee with 15 Dairy Queen locations throughout the region. The lease has five years of base term remaining, four five-year options, and 1.5 percent annual rent increases. VA Broker of Record: Brian Hosey, License # 0225247494

FOR SALE DETAILS

PRICE

$1,650,000 USD

PRICE/SF

$551 USD /SF

CAP RATE

9.47%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Dairy Queen

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Fast Food

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1988

SPRINKLERS

-

PARKING SPACES

37

LAND DETAILS

LAND ACRES

1.41 AC

LAND SF

61,420 SF

ZONING

B-1

APN/PARCEL ID

76-17H

ASK ABOUT THIS PROPERTY

Steve BogoyevacMarcus & MillichapMore Info
424-405-3826

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Steve BogoyevacMarcus & MillichapMore Info
424-405-3826

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