5100 Kilgore Ave Hampton, VA 23666

This exceptional investment opportunity presents the chance to acquire a 31,906 square foot retail condo within the thriving Peninsula Town Center in Hampton, Virginia. The property, built in 2009, is situated on a 1.79-acre lot and features a 100% occupancy rate, generating a strong net operating income (NOI) of $319,066 and a 9.00% cap rate. The asking price is $3,545,000, translating to $111.11 per square foot. The condo includes the first floor of Building F, encompassing a parking lot and space occupied by a mix of tenants, including a Barnes & Noble (with a recently extended lease through 3/30/2030), Mr. Fix, and The Skinny Dip. The property benefits from its prime location within Peninsula Town Center, a 1,500,000 square foot mixed-use development featuring a diverse range of retail, residential, and hospitality components, including Target, JCPenney, and H&M. This vibrant center boasts over 7.1 million annual visits, drawing from a substantial trade area with a population exceeding 202,000 and an average household income over $84,457. The property's strategic location at the intersection of Interstate 64 and Mercury Boulevard ensures high visibility and accessibility, further enhanced by its proximity to major employers like Langley Air Base and NASA Langley Research Center, as well as popular attractions such as the Hampton Coliseum and Hampton Roads Convention Center. The property is zoned C2: Limited Commercial and has an APN of 13004958. This is a rare opportunity to acquire a well-located, high-performing retail asset in a dynamic and growing market. The condo ownership structure offers a clear and straightforward investment.