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Walgreens 321 S Battlefield Blvd

13,678 SF Retail Building Chesapeake, VA 23322 $4,443,548 ($325/SF) 6.20% Cap Rate

Drug Stores Virginia Chesapeake 321 S Battlefield Blvd, Chesapeake, VA 23322

Investment Highlights

  • Brand New NNN Lease
  • Located at the Hard Corner at the Signalized Intersection of S Battlefield Blvd (33,000 VPD) & Mt. Pleasant Rd (18,000 VPD)
  • Substantial Built-In Customer Base | Over 25,170 Households Within 3-Miles
  • 5% Rent Increases Every 5 Years & in Each of the Twelve, 5-Year Renewal Options
  • 16 Miles Southwest of Virginia Beach | MSA Population: 1.82M+
  • 8.6 MSF Retail, 5.2 MSF Office, 6.3 MSF Industrial & 8,939 Multifamily Units Within 3-Mile Radius

Executive Summary

CBRE is pleased to exclusively offer for sale the 13,678-square-foot Walgreens situated on 1.58 acres in Chesapeake, VA - a component of the Virginia Beach-Chesapeake-Norfolk, VA MSA (Population: 1.82M+). Walgreens’ NNN lease commenced in November 2023 and features ±14.0 years of term remaining with 5% rent increases every 5 years and in each of the twelve, 5-year renewal options.

Property Facts

Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Drug Store
Building Size
13,678 SF
Building Class
C
Year Built
2002
Price
$4,443,548
Price Per SF
$325
Cap Rate
6.20%
NOI
$275,500
Tenancy
Single
Building Height
1 Story
Building FAR
0.19
Land Acres
1.62 AC
Zoning
B1
Parking
5.04 Spaces per 1,000 SF Leased

Amenities

  • Bus Line

MAJOR TENANTS Click Here to Access

  • Tenant
  • Industry
  • SF OCCUPIED
  • RENT/SF
  • Lease Type
  • Lease End
  • Retailer
  • 99,999 SF
  • -
  • Lorem Ipsum
  • Jan 0000

Walgreens is a trusted and convenient local health destination that millions of Americans rely on every day. Their founder, Charles R. Walgreen Sr., was known for finding new ways to connect with customers on a personal level and treating each person like a guest in his own home. For over a century, they have expanded that personal connection through their network of neighborhood pharmacies and their innovative health services and products. The foundation for all of this is their trusted pharmacy expertise, and their team members who provide essential care that helps people achieve better health outcomes at an affordable cost.

Tenant Industry SF OCCUPIED RENT/SF Lease Type Lease End
Retailer 99,999 SF - Lorem Ipsum Jan 0000
1 of 1

PROPERTY TAXES

Parcel Number 0481001000020 Improvements Assessment $3,189,100
Land Assessment $1,295,200 Total Assessment $4,484,300

PROPERTY TAXES

Parcel Number
0481001000020
Land Assessment
$1,295,200
Improvements Assessment
$3,189,100
Total Assessment
$4,484,300
  • Brian Pfohl
    Brian Pfohl
  • Thomas Carr
    Thomas Carr
  • Christopher Bosworth
    Christopher Bosworth
  • Leah Lindell
    Leah Lindell
  • Kaitlyn Wolf
    Kaitlyn Wolf
  • Ryan Sciullo
    Power Broker Ryan Sciullo
  • Abby Kelly
    Abby Kelly
(404) 504-7900

  • Listing ID: 31466894

  • Date on Market: 4/10/2024

  • Last Updated:

  • Address: 321 S Battlefield Blvd, Chesapeake, VA 23322

More public record information on 321 S Battlefield Blvd, Chesapeake, VA 23322

The Retail Property at 321 S Battlefield Blvd, Chesapeake, VA 23322 is currently available For Sale. Contact CBRE for more information.

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Walgreens | 321 S Battlefield Blvd
(404) 504-7900 x

Walgreens | 321 S Battlefield Blvd

1/7

Brian Pfohl

(404) 504-7900

(404) 504-7900

Thomas Carr

(404) 812-5101

(404) 812-5101

Christopher Bosworth

(404) 923-1486

(404) 923-1486

Leah Lindell

(404) 812-5136

(404) 812-5136

Kaitlyn Wolf

(404) 812-5299

(404) 812-5299

Ryan Sciullo

(202) 585-5738

(202) 585-5738

Abby Kelly

(404) 923-1460

(404) 923-1460

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