Retail Strip Center For
141 Hillcrest Pkwy, Chesapeake, VA
Call to check price and availability
10,903 SF retail strip center in Chesapeake, Virginia.
Type:RETAIL
Property size:
10,903 SFLot size:
1.96 Acres- Added:
- Nov 24, 2025
- Days on Market:
- 184
- Last Refresh:
- May 19 at 8:37 pm
Property Features for 141 Hillcrest Pkwy
General Information
- Standard status
- Active
- Size
- 10,903 SF
- Lot size
- 1.96 Acres
- Property subtype
- RETAIL
Spaces For Lease
at 141 Hillcrest Pkwy Contact us
Listing agent George Fox
Listing office Colliers | Norfolk (757) 490-3300
Listing date Nov 24, 2025
Source Moodyscre
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of Colliers | Norfolk
HighLights
- 6. 5% cap rate based on scheduled year one NOI.
- 100% occupied retail strip center.
- Anchored by investment‑grade tenant Sherwin‑Williams (Baa2/BBB credit rating) with a newly signed 10‑year corporately guaranteed lease comprising 43% of the property.
- Healthy mixture of tenants with a 6.3 year weighted average lease term (WALT) and scheduled rent increases.
- Located in a high‑traffic area (57,731 vehicles per day) with good ingress/egress and shadow‑anchored by Home Depot within a Planned Use Development (PUD).
- Situated in the Great Bridge Retail Submarket of Norfolk’s MSA, which has low retail vacancy and positive rent growth.
Overview
This 10,903 SF retail strip center, built in 2006, is 100% occupied and anchored by Sherwin-Williams. The property is offered for sale at $4,760,000, presenting a 6.5% cap rate based on the scheduled year one net operating income. The tenant mix includes Sherwin-Williams (43%), Crave Bakery and Coffee Bar (28%), Mystic Spa (15%) and Cristaldo’s (13.8%). All leases are NNN and feature scheduled rent increases, with a weighted average lease term of 6.3 years. Sherwin-Williams recently signed a 10-year corporately guaranteed lease for 4,715 SF, expected to be complete in July 2023. Situated on 1.95 acres, the property is part of a Planned Use Development shadow anchored by Home Depot, with other tenants including Taco Bell, WaWa, Wendy’s and Zaxby’s. Located less than a mile south of Chesapeake Expressway (Route 168) and just off South Battlefield Boulevard, the location benefits from combined traffic counts exceeding 57,731 vehicles per day. Multiple curb cuts and one signalized intersection provide good access. The property is well-positioned along a major commercial corridor in the Great Bridge Retail Submarket of Norfolk’s MSA.
Property Profile
Location Intelligence
Current Use by Public Records
Mystique Salon & Skin ...
Hair Salon
The Mason Jar
Restaurant
Crave Bakery and Coffee ...
Cafe & Coffee Shop
Mapes Rachel DVM
Veterinary Clinic
Sherwin-Williams Paint Store
Hardware & Home Improvement
Location Insight
- Map
- Local Demand
- City
- Chesapeake
- County
- Chesapeake
- State
- Virginia
- Longitude
- -76.2247582
- Latitude
- 36.6569418
Nearby Similar for Lease
FAQs
What type of property is this?
Strip mall - 10,903 SF retail strip center in Chesapeake, Virginia.
Where is this strip mall located?
The property is located at 141 Hillcrest Pkwy Chesapeake, VA.
What are key features of this property?
This property features: 6. 5% cap rate based on scheduled year one NOI.; 100% occupied retail strip center.; Anchored by investment‑grade tenant Sherwin‑Williams (Baa2/BBB credit rating) with a newly signed 10‑year corporately guaranteed lease comprising 43% of the property.
