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