For Sale
$3,634,315

1744 Sentinel DrChesapeake, VA 23320

Chesapeake, VA: High-yield retail investment.

Overview

Added:
Dec 11, 2024
Days on market:
113
This exceptional 7,440 square foot shopping center in Chesapeake, Virginia, presents a compelling investment opportunity. Located at the entrance to a major 254,000 square foot power center anchored by prominent national retailers including Kroger Marketplace, Dick's House of Sport, Five Below, and HomeGoods, this property benefits from high visibility and convenient access directly off Interstate 64 (exit with 37,000 vehicles per day). The fully leased, three-tenant building boasts a 100% occupancy rate, generating a strong net operating income (NOI) of $248,950, and a current cap rate of 6.85%. Built in 2019, this fee-simple property features a triple-net (NNN) lease structure, offering a stable and predictable income stream. The property's e-commerce resistant tenant mix further enhances its long-term value. The asking price is $3,634,315, with a projected 2025 cap rate of 7.14% based on anticipated rent increases. The property shares access with a Starbucks and Valvoline, adding to its strategic location and appeal. This is a rare opportunity to acquire a high-performing retail asset in a prime location. The property sits on 1.47 acres and is ideal for a 1031 exchange.

Highlights

  • 100% occupied, 7,440 SF strip center.
  • Located at the entrance to a 254,000 SF power center anchored by national retailers.
  • Projected 7.14% cap rate in 2025.
  • E-commerce resistant tenant mix.
  • Excellent Interstate 64 access.

Property Details for 1744 Sentinel Dr

Property type
Lifestyle centers, Power centers
Square Feet
7,440 SF
Year Built
2019
Buildings
1
Units
3

Location Insight

City
Chesapeake
County
Chesapeake City
State
Virginia
Latitude
36.779171272459
Longitude
-76.255584145242
1744 Sentinel Dr, Chesapeake, Virginia

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1744 Sentinel Dr
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