Building Details

Buildings 1

Tenancy Multi

Listing Agency: Palomar Real Estate Group

Listed By: Ryan McArdle · License #GA 319111

Source: Crexi

Added: Apr 11 Changed: Aug 31 Last Checked: Apr 11 at 7:38PM

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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 Palomar Real Estate Group

Investment Insights

Based on property information with market context.

This retail asset comprises a portion of Peninsula Town Center and is currently fully occupied. Existing leases are short term and contain no options, with Shoe Dept and Bath & Body Works among the occupants. Projected cash returns are stated to increase from 7.75% to 12.43% upon renewal of those two leases, alongside projected NOI growth exceeding $100,000.

The property is located at 2540 McMenamin St in Hampton, Virginia, within Peninsula Town Center. Common-area access serves hotel guests, residents, and visitors. The center’s Target anchor received a complete interior renovation and exterior update in 2022. Adjoining multifamily residential is also identified as part of the surrounding Town Center environment.

Key Highlights

• Fully occupied retail portion within Peninsula Town Center
• Short‑term leases with no options on existing retail tenants
• Shoe Dept and Bath & Body Works are identified occupants

Property Analytics

Current Use

Shoe Dept. Encore Clothing & Fashion Store

Suggested Use

Top Pick Parking Lot & Garage Garden Center Building Supply (Bike/Boat/Book/etc) Store Plumbing Service Wine and Liquor Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

100%

Occupancy

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

1,638

Businesses Nearby

996k

Monthly Visits Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Dining 39% Shops & Services 20% Superstores 18% Home Improvements & Furnishings 7%

Target Superstores

126,477 visits/mo 0.2 miles

Chick-fil-A Dining

53,886 visits/mo 0.4 miles

BJ's Wholesale Club Superstores

53,504 visits/mo 0.5 miles

Lowe's Home Improvements & Furnishings

47,634 visits/mo 0.4 miles

Food Lion Grocery Store Groceries

35,432 visits/mo 0.4 miles

Demographics for 23666, VA

52,845

Population

25,117

Households

2.1

Avg Household Size

37

Median Age

27%

College-Educated

91%

High-School Grad

19.4 sq mi

ZIP Area

2,724

Density / Sq Mi

$70,798

Median Household Income

$42,552

Median Earnings

$1,439

Median Rent

$241,600

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

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Frequently Asked Questions

What type of property is this?

Shopping center - Fully occupied retail asset with established tenants and convenient access throughout Peninsula Town Center.

Where is this shopping center located?

The property is located at 2540 McMenamin St Hampton, VA.

What are key features of this property?

This property features: Fully occupied retail portion within Peninsula Town Center; Short‑term leases with no options on existing retail tenants; Shoe Dept and Bath & Body Works are identified occupants