5236 Providence Rd - Fast Food FOR SALE


Virginia Beach, VA 23464
$2,067,000 USD
704-697-1900
5236 Providence Rd, Virginia Beach, VA for Sale
$2,067,000 USD
Fast Food - FOR SALE
1/4
null | 4.25% Cap Rate

5236 Providence Rd
Virginia Beach, VA 23464


HIGHLIGHTS

  • Corporate Guarantee from Strong Credit Tenant
  • Attractive Lease Fundamentals
  • High Visibility in Major Retail Hub

OVERVIEW

Corporate Guarantee from Strong Credit Tenant - McDonald’s has over 36K locations worldwide - S&P Credit rating of BBB+ and has a market capitalization of $216B (NYSE: MCD) - Over $23B 2022 revenue Attractive Lease Fundamentals - Low Rent Abs. NNN- Ground Lease - Three (3) - five (5) year options - 10% rental increases in each option - No LL responsibilities Long Operating History - McDonald’s has been operating at this location for over 20 years - Recently extended the lease - This location ranks in the top 60th percentile nationally Strong Surrounding Demographics - Over 322k people live within a 5-mile radius - Average household income nearly $100k - Nearly 500k residents live within a 15minute drive time High Visibility in Major Retail Hub - Situated at a the intersection of Kempsville Rd (32K VPD) & Providence Rd (24K VPD) - Over 800k SF of retail located in 1-mile radius - Fairfield Shopping Center has recently gone through $1.5M of capital improvements - Nearby national tenant’s include: TJ Maxx, Kroger’s, Starbucks, Verizon, and Chase

FOR SALE DETAILS

PRICE

$2,067,000 USD

PRICE/SF

$608 USD /SF

CAP RATE

4.25%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

ON GROUND LEASE

Yes

BUILDING DETAILS

PROPERTY NAME

McDonald's

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Fast Food

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2001

SPRINKLERS

-

PARKING SPACES

35

LAND DETAILS

LAND ACRES

0.57 AC

LAND SF

24,829 SF

ZONING

B2

APN/PARCEL ID

1466-54-9642

ASK ABOUT THIS PROPERTY

David HoppeAtlantic Capital PartnersMore Info
704-697-1900

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David HoppeAtlantic Capital PartnersMore Info
704-697-1900

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