For Sale
$2,113,000

3110 Allainby Way Hampton, VA 23666

High-Yield Retail Center, 100% Leased

Overview

Added:
Dec 11, 2024
Days on market:
135
This exceptional 9,293 square foot shopping center in Hampton, VA, presents a compelling investment opportunity. Located within the thriving Peninsula Town Center (PTC), a 1.4 million square foot mixed-use development, this fully leased, multi-tenant property boasts a 7.50% cap rate and a strong NOI of $158,477. Built in 2009, the center benefits from a prime location with immediate access to major highways (I-64, I-664, and Mercury Boulevard), providing excellent visibility and accessibility. The property includes 4,207 free parking spaces for tenants and visitors. Tenants enjoy access to exclusive marketing services, yearly events, and monthly giveaways offered through the Owner's Association. The property is zoned C-2 and sits on a 0.27-acre lot (APN: 13004538). The asking price is $2,113,000 ($227.38/sq ft). The center's tenant mix is diverse and includes a recently signed lease with Shah's Halal Food. The property's location within the bustling Hampton Roads market, known for its significant military presence, ensures a consistent stream of customers. The recently remodeled Target anchor store further enhances the shopping experience within PTC, Virginia's most visited shopping center. This property offers limited management responsibilities due to the professionally managed common areas.

Highlights

  • Fully leased 9,293 SF strip shopping center.
  • Ample free parking (4,207 spaces) available.
  • Excellent highway access via I-64, I-664, and Mercury Boulevard.
  • Tenants receive free exclusive marketing services through the Owner's Association.
  • Access to annual Peninsula Town Center events and gatherings.
  • Tenants enjoy exclusive shopping events and monthly giveaways.

Property Details for 3110 Allainby Way

Property type
Lifestyle centers, Power centers
Square Feet
9,293 SF
Year Built
2009
Lot Size (sq. ft)
11,761 SF

Location Insight

City
Hampton
County
Hampton
State
Virginia
Latitude
37.0439722
Longitude
-76.3948143

FAQs

What type of property is this?
Lifestyle center - High-Yield Retail Center, 100% Leased
Where is the lifestyle center located?
The property is located at 3110 Allainby Way Hampton, VA.
What is the asking price?
The asking price for this property is $2,113,000.
What are key features of this property?
This property features: Fully leased 9,293 SF strip shopping center.; Ample free parking (4,207 spaces) available.; Excellent highway access via I-64, I-664, and Mercury Boulevard.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
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3110 Allainby Way
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