6150 Old College Dr - Drug Store FOR SALE
Suffolk, VA 23435 |
$5,815,700 USD
727-452-6864
6150 Old College Dr
Suffolk, VA 23435
HIGHLIGHTS
- Absolute NNN, no landlord responsibilities
- 11+ years remaining on original term with increases throughout (first begins in 2025)
- Located in Hampton Roads MSA known for significant military presence; 5% of the region’s $81B gross regional output is defense-related.
- 3-Mile Demographics: 58,777 Population; $113,014 Avg HH Income
- Located in the Harbourview Retail submarket which contains approximately 1,005,000 SF of retail space
- Shared ingress/egress with a Kroger-anchored center
OVERVIEW
RIPCO REAL ESTATE is pleased to of fer for sale 6150 COLLEGE DRIVE, an 11,085 SF single-tenant, absolute net leased retail building occupied by national drugstore chain, Rite Aid. The tenant has eleven (11) years remaining on the lease term, with rental increases throughout the term and option periods.
FOR SALE DETAILS
PRICE
$5,815,700 USD
PRICE/SF
$525 USD /SF
CAP RATE
6.25%
% LEASED
-
TENANCY
Single
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY NAME
Rite-Aid
PROPERTY TYPE
Retail
PROPERTY SUBTYPE
Drug Store
ADD'L SUBTYPES
Freestanding
TOTAL BUILDING SIZE
-
STORIES
1
YEAR BUILT
2016
SPRINKLERS
-
PARKING SPACES
41
LAND DETAILS
LAND ACRES
1.43 AC
LAND SF
62,291 SF
ZONING
Commercial
APN/PARCEL ID
304611600
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727-452-6864
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727-452-6864
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