1744 Sentinel DrChesapeake, VA 23320

Property Details for 1744 Sentinel Dr

Year built

2019

Property size (Sq ft)

7,440 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

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.

Location Insight

City

Chesapeake

County

Chesapeake City

State

Virginia

Latitude

36.7792

Longitude

-76.2556

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