Virginia ABC Store (State-run liquor store)
1137 London Blvd, Portsmouth, VA 23704
Marketing description
SLN Capital Markets, a division of S.L. Nusbaum Realty Co., is pleased to exclusively offer for sale the Virginia ABC Store located at 1137 London Blvd in Portsmouth, VA.
The property is leased to the Virginia Alcoholic Beverage Control Authority, an independent political subdivision of the Commonwealth of Virginia. The state itself carries a top credit rating of Aaa by Moody's.
The 2022 build-to-suit project features a long-term lease with limited landlord responsibilities and scheduled increases throughout the initial term and during the option periods.
Store sales are extremely healthy. In 2025, the London Blvd location reported sales of $3,761,76—a rent/sales ratio of less than 2%.
The property is located near other national retailers including Dollar Tree, McDonald's and Wawa as well as several newer townhomes and apartments.
Prime retail site on London Blvd in Portsmouth near national retailers such as Dollar Tree, McDonald’s and Wawa, surrounded by new housing developments within the Norfolk-Virginia Beach-Newport News MSA.
Investment highlights
- Government-backed lease.
- Strong store sales (less than 2% rent/sales ratio).
- Surrounded by new housing starts and national retailers.
- Centrally located city in Coastal Virginia (metro population: 1.8 million).
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