TGI Friday’s Virginia Beach, VA

796 Lynnhaven Parkway
Virginia Beach, VA

Price: $3594000
Cap Rate: 5.25%
NOI: $188,659
Building Size: Approx. 9200 Sq. Ft.
Lot Size: Approx. 2.04 Acres
Type: Single-Tenant / Retail
Sub Category: Casual Dining
Year Built: 1982

Investment Overview

  • 9,200+/- SF Building on 2.04+/- Acre Site
  • 20-Yr Absolute, NNN Lease w/ 10% Rent Bumps Every 5-Yrs
  • Located along Lynnhaven Pkwy (39,461 VPD), just S of International Pwy
  • Across Lynnhaven Mall (1,337,237 SF) | 8-Miles E of Ocean Front (5 Million Visitors)
  • Company HQ’s: Amerigroup | Christian Broadcasting Network | STIHL Inc.
  • 7 Miles W Naval Air Station (10,500 personnel) | 15-Miles SE of Norfolk
  • Tourism: Virginia generated $2.2 billion in visitors spending FY 2014
  • 5-Mile Radius: 2015 Estimated Pop: 239,018 l 3-Mile Avg. HH Income:  $69,098
  • Virginia Beach – Norfolk – Newport News (MSA) | Population: 1,700,000

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