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Dairy Queen 27490 Southampton Pkwy

2,992 SF Retail Building Courtland, VA 23837 $1,650,000 ($551/SF) 9.47% Cap Rate

Retail Space Virginia Courtland 27490 Southampton Pkwy, Courtland, VA 23837

Investment Highlights

  • Absolute Net Leased Dairy Queen Grill & Chill Drive-Thru With Four Years of Base Term Remaining, Four Five-Year Options and 1.5% Annual Rent Increases
  • Lease is Backed by an Operator of 15 Dairy Queen Locations Throughout the Hampton Roads Region
  • Nearby Tenants Include the DMV, 7-Eleven, Food Lion, the Courtland Inn, and Dollar General, and an 8-Minute Drive to Major Retailers Such as Walmart
  • Long-Term Dairy Queen Location Was Opened in 1988 and Renovated in 2008
  • Solid Retail Location Along a Major State Route (VA-58) With Traffic Volume Reaching Nearly 22,000 Vehicles Per Day

Executive Summary

Marcus & Millichap is pleased to present to market the absolute net leased Dairy Queen Grill & Chill located at 27490 Southampton Parkway in Courtland, Virginia. This long-term Dairy Queen location has been open since 1988 and was renovated in 2008, demonstrating tenant commitment to the location. This store is on an absolute net lease backed by Mid Atlantic Dairy Queen LLC, a franchisee with 15 Dairy Queen locations throughout the region. The lease has five years of base term remaining, four five-year options, and 1.5 percent annual rent increases.
VA Broker of Record: Brian Hosey, License # 0225247494

Attachments

OM - DQ Courtland

Property Facts

Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Fast Food
Building Size
2,992 SF
Building Class
B
Year Built/Renovated
1988/2008
Price
$1,650,000
Price Per SF
$551
Cap Rate
9.47%
NOI
$156,255
Tenancy
Single
Building Height
1 Story
Building FAR
0.05
Land Acres
1.41 AC
Zoning
B-1 - Limited Business
Parking
37 Spaces (12.37 Spaces per 1,000 SF Leased)
Frontage
155 FT on U.S. 58

Amenities

  • Drive Thru
  • Air Conditioning

MAJOR TENANTS Click Here to Access

  • Tenant
  • Industry
  • SF OCCUPIED
  • RENT/SF
  • Lease Type
  • Lease End
  • Accommodation and Food Services
  • 99,999 SF
  • $9.99
  • Lorem Ipsum
  • Jan 0000

International Dairy Queen Inc., (IDQ), based in Minneapolis, Minnesota, is the parent company of American Dairy Queen Corporation and Dairy Queen Canada, Inc. Through its subsidiaries, IDQ develops, licenses and services a system of locations in the United States, Canada and more than 20 other countries. IDQ is a subsidiary of Berkshire Hathaway Inc., which is led by Warren Buffett, the legendary investor and CEO of Berkshire.

Tenant Industry SF OCCUPIED RENT/SF Lease Type Lease End
Accommodation and Food Services 99,999 SF $9.99 Lorem Ipsum Jan 0000
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PROPERTY TAXES

Parcel Numbers
Multiple
  • 76-17B
  • 76-17H
 Improvements Assessment $919,500
Land Assessment $537,200 Total Assessment $1,456,700

PROPERTY TAXES

Parcel Numbers
Multiple
  • 76-17B
  • 76-17H
Land Assessment
$537,200
Improvements Assessment
$919,500
Total Assessment
$1,456,700
(562) 257-1231

  • Listing ID: 27761620

  • Date on Market: 2/15/2023

  • Last Updated:

  • Address: 27490 Southampton Pkwy, Courtland, VA 23837

More public record information on 27490 Southampton Pkwy, Courtland, VA 23837

The Retail Property at 27490 Southampton Pkwy, Courtland, VA 23837 is currently available For Sale. Contact Marcus & Millichap for more information.

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Dairy Queen | 27490 Southampton Pkwy
(562) 257-1231 x

Dairy Queen | 27490 Southampton Pkwy

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Steve Bogoyevac

(562) 257-1231

(562) 257-1231

Mitchel Cannata

(424) 405-3830

(424) 405-3830

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