For Sale
$2,400,000

13700 Midlothian Tpke Midlothian, VA 23113

High-Yield Bank Property, VA

Overview

Added:
Dec 11, 2024
Days on market:
137
This fee-simple retail property, located at 13700 Midlothian Tpke, Midlothian, VA 23113, offers a compelling investment opportunity. The 3,786 square foot building, constructed in 1988 and situated on a 0.758-acre lot, is currently 100% occupied by a credit-rated Atlantic Union Bank under a Net Net (NN) lease. The lease commenced March 30, 2015, and has a remaining term of 5.4 years, expiring March 31, 2030, with built-in rent bumps. The property boasts a strong Net Operating Income (NOI) of $144,000, resulting in a 6.00% cap rate. The asking price is $2,400,000. The bank enjoys excellent visibility on Midlothian Turnpike, a major thoroughfare, and benefits from a high-income demographic

Highlights

  • Fee-simple retail property with recent lease renewal.
  • Located in a highly affluent area with a high household income ($172k within 3 miles).
  • Strong tenant with over $117M in deposits.
  • Excellent visibility on Midlothian Turnpike (US-60), a major thoroughfare with 41,000 vehicles per day.
  • Hard corner location.

Property Details for 13700 Midlothian Tpke

Property type
Retail properties, Banks
Square Feet
3,786 SF
Year Built
1988
Lot Size (sq. ft)
33,018 SF

Location Insight

City
Midlothian
County
Chesterfield
State
Virginia
Latitude
37.50427885
Longitude
-77.65412538

FAQs

What type of property is this?
Retail property - High-Yield Bank Property, VA
Where is the retail property located?
The property is located at 13700 Midlothian Tpke Midlothian, VA.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: Fee-simple retail property with recent lease renewal.; Located in a highly affluent area with a high household income ($172k within 3 miles).; Strong tenant with over $117M in deposits.
How can I contact the broker?
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13700 Midlothian Tpke
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