Listed by Sands Investment Group - FTL, Sands Investment Group Philadelphia, Sands Investment Group Charleston
$2,600,000
Kings Creek Shoppes - Virginia Beach, VA
Details
Property Type Retail
Sub Type Shopping Center
Square Footage 13,670
Units 9
Cap Rate 8.04%
NOI $209,079
Occupancy 100%
Tenancy Multi
Lease Type NNN
Remaining Term 3
Price per SqFt $190
Year Built 2008
Acreage 1.610
Ground Lease No
100% Leased Retail Center | Below Market Rents | 8.04% CAP | Dominant Retail Corridor
Marketing description
Sands Investment Group is pleased to exclusively offer for sale the 13,670 SF Kings Creek Shoppes located at 6361-6365 Indian River Road in Virginia Beach, VA. This deal presents a rare opportunity to acquire a 100% leased retail center in a densely populated, high-demand submarket, featuring strong in-place income and an attractive cap rate, providing a secure investment opportunity.
Investment highlights
- Attractive Yield in a Primary Market: Rare opportunity to acquire a 100% leased retail center in a densely populated, high-demand submarket with strong in-place income and an attractive 8.04% CAP rate.
- Value-Add Through Mark-to-Market Rents: Current rents are below market, with shorter lease terms offering a near-term opportunity to reposition tenancy and increase NOI.
- Located in a Dominant Retail Corridor: Situated along a highly active retail stretch of Indian River Road, adjacent to a Food Lion–anchored center and other national tenants, reinforcing consistent traffic and tenant demand.
- Core Coastal Market With Strong Fundamentals: Part of the 1.8 million-resident Hampton Roads metro, Virginia Beach combines coastal appeal with major institutional anchors like the U.S. military, healthcare systems, and a global port, providing a reliable foundation for retail investment.
- Newer Construction Property: Built in 2008, this strip center boasts attractive building quality.
Listing Contacts
Listed by Sands Investment Group - FTL, Sands Investment Group Philadelphia, Sands Investment Group Charleston
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$209,079.00
$17,423.25/mo
Valuation Metrics
0
DSCR
8.04%
Cap Rate
8.04%
ROI
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