NN Family Dollar Tree | Burgess, VA | 116 Jessie DuPont Memorial Hwy
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NN Family Dollar Tree | Burgess, VA 116 Jessie DuPont Memorial Hwy
10,532 SF Retail Building Burgess, VA 22432 $1,655,000 ($157.14/SF) 6.75% Cap Rate
INVESTMENT HIGHLIGHTS
- Dollar Tree and Family Dollar is strategically fronting Jesse Dupont Memorial Hwy averaging 5,800 VPD
- Popular day-trip or weekend destination for B&B, coastal dining and outdoor activities including boating, fishing, hiking, cycling
- 2023 ground up build-to-suit construction. All components and systems are brand new
- Burgess is located 10 miles north of Kilmarnock, VA which is a premier weekend destination
- Reedville, VA is home to the fishing industry for Atlantic menhaden
EXECUTIVE SUMMARY
8+ years remaining on a 10-year lease with 3 (5-year) options to extend, demonstrating their long-term commitment to the site. The lease is corporate signed by Family Dollar Stores of Virginia, Inc. 5% increases at the beginning of the options. Low rent occupancy cost with rent of $10.60/SF. Tenant pays for CAM, taxes, insurance and maintains most aspects of the premises. 2023 ground up build-to-suit construction. All components and systems are brand new. Landlord responsibilities limited to roof, structure, and parking lot Ideal, low-management investment for an out-of-state, passive investor.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
10,532 SF
Year Built
2023
Price
$1,655,000
Price Per SF
$157.14
Cap Rate
6.75%
NOI
$111,720
Tenancy
Single
Building Height
1 Story
Building FAR
0.15
Lot Size
1.57 AC
Zoning
B-1 - This zoning designation is designed to support small-scale commercial activities that serve the local community and complement residential areas.
Parking
3.8 Spaces per 1,000 SF Leased
AMENITIES
- Air Conditioning
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 27-0-1-0-217-B | Improvements Assessment | $405,300 |
| Land Assessment | $85,000 | Total Assessment | $490,300 |
PROPERTY TAXES
Parcel Number
27-0-1-0-217-B
Land Assessment
$85,000
Improvements Assessment
$405,300
Total Assessment
$490,300
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NN Family Dollar Tree | Burgess, VA | 116 Jessie DuPont Memorial Hwy
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