Listed by CP Partners
$23,000,000
Meadowbrook Plaza
Details
Property Type Retail
Sub Type Shopping Center
Square Footage 162,671
Net Rentable (SqFt) 162,671
Cap Rate 7.00%
NOI $1,604,834
Occupancy 100%
Tenancy Multi
Brand/Tenant Walmart, DaVita
Price per SqFt $141
Acreage 13.130
Ground Lease No
Grocery Anchored Center with Recent Major Renovations
Marketing description
Meadowbrook Plaza is Anchored by Walmart Neighborhood Market and recently added Burlington and Marshalls to the tenant roster. Marshalls relocated from Meadowdale Center, the nearest competing grocery anchored center. The center has undergone major recent renovations, including new roofs, structural work, new signage and facade.
Investment highlights
- Walmart Neighborhood Market anchors the center on a long term ground lease
- Marshalls (TJX) and Burlington recently signed 10 year leases and are now open for business
- Marshalls is a relocation from nearby Meadowdale Center, demonstrating the strength of the subject property’s prime location within the trade area
- Two outparcel buildings (NAP) have recently signed new leases, further underscoring the strong tenant demand for the property
- The Walmart Neighborhood Market Ground Lease is separately parceled, allowing an investor the opportunity to sell off at a compressed cap rate and reduce their basis
- Grow Generation (dark) recently subleased their space to Hair Depot at their same contractual lease terms, further highlighting the exceptional tenant demand for the center
- New national QSR currently under development at the hard corner (may be available separately; contract Broker for more details)
- Meadowbrook Plaza attracted 2 million visitors last year, prior to Marshalls and Burlington opening for business (source: Placer.ai)
- Ideally located at the off ramp of Chippenham Parkway (VA State Route 150) and benefits from combined traffic counts of 71,930 VPD
Listing Contacts
Listed by CP Partners
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$1,604,834.00
$133,736.17/mo
Valuation Metrics
0
DSCR
6.98%
Cap Rate
6.98%
ROI
Map
Zoning
CC CommercialSpecial CommercialCorridor Commercial
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