Rite-Aid

11,085 SF | Retail Building | Suffolk, VA 23435 | $5,815,700 ($525/SF) | 6.25% Cap Rate

Date Added:
May 17, 2024
Days on Market:
28 days

Asking Price $5,815,700

Property Type
Retail
Square Feet
11,085 SF
Price / Square Foot
$525

Listing Contacts

Ari Ravi
Ari Ravi
Verified Profile
Nathan Timmons
Nathan Timmons
Verified Profile
Edward Kemp
Edward Kemp
Verified Profile
  • Property Info

Property Overview

RIPCO REAL ESTATE is pleased to of fer for sale 6150 COLLEGE DRIVE, an 11,085 SF single-tenant, absolute net leased retail building occupied by national drugstore chain, Rite Aid. The tenant has eleven (11) years remaining on the lease term, with rental increases throughout the term and option periods.

Property Details

Class
B
Year Built
2016
Stories
1
Property Subtype
Drug Store, Freestanding
Lot Size (sq. ft)
62,291 SF

Highlights

  • Absolute NNN, no landlord responsibilities
  • 11+ years remaining on original term with increases throughout (first begins in 2025)
  • Located in Hampton Roads MSA known for significant military presence; 5% of the region’s $81B gross regional output is defense-related.
  • 3-Mile Demographics: 58,777 Population; $113,014 Avg HH Income
  • Located in the Harbourview Retail submarket which contains approximately 1,005,000 SF of retail space
  • Shared ingress/egress with a Kroger-anchored center

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