x
By submitting, you're allowing YAFC Team to email you regarding available listings. You can unsubscribe anytime.

x

Starbucks & Heartland Dental, Chesapeake, VA

Starbucks & Heartland Dental

VA, United States

Price $3,269,000
Cap Rate
NOI
Lease Term Various
Lease Type NNN
Rental Increases Various
Year Built 2017
Building Size 6,018 SF
Lot Size 1.02 Acres (44,388 SF)
Status Sold
Lead Broker Information Ryan Forsyth
Executive Director
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Vince Aicale
Executive Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Investment Highlights

NEW 100% LEASED TWO-TENANT RETAIL CENTER
» 100% leased to notable national tenants
» Starbucks S&P rating recently upgraded to an “A”. Heartland Dental is the largest dental organization, with more than 750 locations and over $850 million in revenue.
» Scheduled rental increases for both tenants, providing a hedge against inflation
» Starbucks relocated from an inline space within the Hanbury Village shopping center
» New Starbucks location features a dedicated drive-thru, providing additional customer convenience and boosting sales revenue
» New high-quality construction featuring latest store designs and concepts

HIGH-TRAFFIC LOCATION IN GROCERY-ANCHORED SHOPPING CENTER
» Immediate access to Great Bridge Bypass, one of the major transportation corridors through the region, with a high traffic count of 44,347 vehicles per day
» Outparcel to Hanbury Village, a large shopping center featuring Harris Teeter, Walgreens, Petco, Massage Envy, Supercuts, 7-Eleven, and many others

CENTRAL LOCATION WITH ROBUST DEMOGRAPHICS
» Surrounded by wealthy residential neighborhoods, with average household incomes greatly exceeding $100,000 within one-, three-, and five-mile radii
» Within walking distance of Great Bridge High School, with a total enrollment of 1,530 students
» Close proximity to Chesapeake Regional Medical Center, a 310-bed hospital with 2,400 employees
» Near Tidewater Community College, one of the largest and fastest growing community colleges in the U.S., with over 37,000 students
» Minutes from the Chesapeake Municipal Center, location of the administrative offices of the City of Chesapeake
» The City of Chesapeake is one of the largest employers in the region, with 3,680 employees

Click Here to Download Offering Memorandum


Property Description

SOLD

The property is located in Hanbury Village, a shopping center with excellent visibility and access to 16,000 vehicles per day on Hanbury Road. The property benefits from immediate access to Great Bridge Bypass, a major transportation corridor through the region, with a high traffic count of 44,347 vehicles per day near the property. The property is outparcel to the Hanbury Village shopping center, which is anchored by Harris Teeter and features a number of national tenants, including Walgreens, Petco, Massage Envy, Supercuts, and 7-Eleven. Several large shopping centers are near the property, including Edinburgh Commons, a shopping complex anchored by Walmart Supercenter, Home Depot, and Target. Other notable retailers near the property include Rite Aid, Food Lion, Advance Auto Parts, Anytime Fitness, AT&T, McDonald’s, and many others.

The property is centrally located near major employers, large schools, and wealthy residential neighborhoods. The property is a few miles south of Chesapeake Regional Medical Center, a 310-bed hospital with 2,400 employees. The Chesapeake Municipal Center is also nearby; the City of Chesapeake is one of the largest employers in the region, with 3,680 employees. Great Bridge High School, with a total enrollment of 1,530 students, is within walking distance of the property, and Tidewater Community College is a few miles from the property. The college is the largest provider of higher education and workforce development services in Southeastern Virginia and is among the 50 fastest growing large two-year institutions in the nation. The property is also surrounded by wealthy residential communities. The average household income is $120,383 within a one-mile radius of the property, and average household incomes greatly exceed $100,000 within three- and five-mile radii.

Contact Us About This Property

Ryan & Vince Form
Sending
JOIN OUR
EMAIL LIST
SUBSCRIBE
Receive Our Latest Single and Multi-Tenant Listings
close-link