Listed by Matthews
$4,005,000
Hull Street Marketplace
Details
APN C007-0355-022
Property Type Retail
Sub Type Shopping Center
Square Footage 44,440
Cap Rate 7.50%
NOI $300,373
Occupancy 100%
Tenancy Multi
Lease Type Modified
Price per SqFt $90
Year Built 1992
Buildings 1
Acreage 6.620
Parking Spaces 195 spaces
Parking per 1,000 SqFt 4.39
Investment Type Stabilized
Retail | 7.50% CAP | 44,440 SqFt
Marketing description
Matthews is pleased to offer the opportunity to acquire Hull Street Marketplace - a ±44,440 SF shopping center located in Richmond, VA. The center is anchored by a strong mix of local and regional tenants including Virginia's #1 grocer by market share — Food Lion, and Family Dollar.
Investment highlights
- Anchored by an established Food Lion – Virginia's #1 grocer by market share (over 42%) – providing the neighborhood with a valuable and proven necessity-based shopping draw.
- Well-situated at the signalized intersection of Swanson Drive & Hull Street, and less than a mile from McGuire Veterans Hospital.
- Located in Richmond, in the ever-expanding Central MSA – a thriving market, which continues to be at the top of the list for investors targeting retail assets in the Mid-Atlantic.
- Tenant roster is comprised of 2 national credit retailers, Food Lion and Family Dollar, which sits freestanding.
- With roughly 8 years of remaining lease term, Food Lion reports very strong sales of $550/SF.
- A potential upside component of a separately available pad site in front under separate ownership.
- Strong, growing trade area (out to 5+ miles) with an average household income of $94,776.
Listing Contacts
Listed by Matthews
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$300,373.00
$25,031.08/mo
Valuation Metrics
0
DSCR
7.5%
Cap Rate
7.5%
ROI
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