645 First Colonial Rd - Drug Store FOR SALE


Virginia Beach, VA 23451
$8,322,580 USD
202-644-8700
645 First Colonial Rd, Virginia Beach, VA for Sale
$8,322,580 USD
Drug Store - FOR SALE
1/8
null | 7.75% Cap Rate

645 First Colonial Rd
Virginia Beach, VA 23451


OVERVIEW

Avison Young’s U.S. Capital Markets Group, as exclusive advisors to the owner, is pleased to present the opportunity to acquire a Walgreens in Virginia Beach, VA. Built in 2015, this offering is 13,904 square feet with a corporate guarantee from Walgreen Co. The property is situated at a signalized intersection on the corner of First Colonial Road & Laskin Road, seeing a combined traffic count of 70,000+ VPD. Demographics are excellent, especially with the Oceana Naval Air Station nearby, allowing this location to fill prescriptions for military personnel. This offering represents a rare chance to acquire an incredibly well-located asset with a drive-thru that is leased for 10+ years by a credit-worthy tenant. - Signalized intersection with 70,000+ combined VPD at the intersection of First Colonial Road & Laskin Road - Location has a beer and wine license - 2015 build-to-suit construction with drive-thru pharmacy window Lease signed by Walgreens Boots Alliance (S&P: BB | Moody’s: Ba2) - Excellent demographics – 134,375 residents and average household incomes of $107,695 within a 5-mile radius of the property - Several nearby national retailers on the heavily trafficked corridor driving traffic to the property - Close proximity to Oceana Naval Air Station so location fills prescriptions for military personnel

FOR SALE DETAILS

PRICE

$8,322,580 USD

PRICE/SF

$599 USD /SF

CAP RATE

7.75%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Walgreens

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2015

SPRINKLERS

-

PARKING SPACES

45

LAND DETAILS

LAND ACRES

1.04 AC

LAND SF

45,302 SF

ZONING

-

APN/PARCEL ID

-

ASK ABOUT THIS PROPERTY

Tim FarrellAvison YoungMore Info
202-644-8700

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Tim FarrellAvison YoungMore Info
202-644-8700

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