6150 College Dr Suffolk, VA 23435

This exceptional investment opportunity presents a fee-simple, 11,085 square-foot, single-tenant retail building in Suffolk, Virginia. The property is 100% occupied by Rite Aid under an absolute NNN lease with 10.6 years remaining, expiring June 29, 2035, and includes six, five-year renewal options. The lease commenced June 30, 2015, and features rent bumps. The building, constructed in 2016, is a Class B property situated on a 1.47-acre lot with 48 parking spaces and a convenient drive-thru. Located at 6150 College Drive, Suffolk, VA 23435, the property boasts excellent visibility and accessibility, situated within a thriving retail corridor with high traffic counts (21,000 AADT on College Drive). The property benefits from strong demographics, including a 3-mile population of 58,777 with an average household income of $113,014. The asking price is $5,815,700, representing a 6.25% cap rate and a net operating income (NOI) of $363,482. The property is zoned B2-General Business/Commercial and shares ingress/egress with a Kroger-anchored center. This is a stabilized investment with minimal landlord responsibilities, offering a secure and attractive return for investors. The property is part of the Harbour View submarket, a key retail area in the Hampton Roads metropolitan area.