- Opportunity to acquire Chesapeake Square Plaza which is conveniently positioned in a trade area that features Target, The Home Depot, Lidl, Aldi, Food Lion, Walmart Supercenter, BJ’s Wholesale Club and more
- Jersey Mike’s, GNC, and Starbucks all recently extended their lease periods, confirming their success and commitment to the site and surrounding trade area
- Jersey Mike’s, Hair Cuttery, and Starbucks have operated at this location for 9+ years
- Tenants pay for CAM, taxes, insurance and maintains all aspects of the premises
- Landlord responsibilities limited to roof & structure (roof is under warranty until 2029)
- Ideal, low
- management investment for a passive investor
Off Market
Chesapeake, VA - Chesapeake Square Plaza
2400 Chesapeake Square Ring Road | Chesapeake, VA 23321
$4,065,000
Price5.75%
Cap Rate$233,647
NOI2014
Year Built100%
Occupancy6,862
± SF Offering GLA1.2
± AC Land AreaDescription
Location
- The asset is located at the signalized, hard corner intersection of Chesapeake Square Ring Road and Taylor Road
- Located off Portsmouth Boulevard (30,000 VPD), the primary thoroughfare serving the city of Chesapeake
- Starbucks is equipped with a drive-thru, boosting sales and productivity
- Jolliff Landing, a new development located 1.5 miles West of the subject property, will feature 55 townhomes and condos, 305 upscale apartments, and a four lane highway fronting the property
- More than 147,000 residents and 74,000 employees support the trade area
- $108,790 average household income within a 1-mile radius
Documents & Links
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 Offering Memorandum |  |  |