5305 Indian River Road Virginia Beach, VA 23464

Listing agency Marcus & Millichap - Washington, D.C. b***@marcusmillichap.com Show Phone

Listed by Bryn Merrey · License #MD 646476

Source Crexi

Added: Apr 10 Updated: Jul 20 at 6:26PM Checked: Jul 20 at 6:26PM

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Investment Insights

Based on property information with market context.

This Walgreens property was constructed in 2005 and is offered as a triple-net (NNN) investment with a long-term lease in place. The site includes approximately 14,820 rentable square feet of building space on an estimated 2.01-acre parcel of land. The property is leased to Walgreens under a 25-year NNN lease that commenced on June 1, 2005.

The lease provides ten (10) five-year tenant renewal options, extending the total possible lease term to 75 years. The property’s annual rent is $410,000. The listing is presented by Marcus & Millichap as an exclusive offering.

Key Highlights

• Walgreens retail building on an estimated 2.01‑acre parcel, constructed in 2005
• Approximately 14,820 rentable SF building space
• 25‑year triple‑net (NNN) lease commenced June 1, 2005

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FAQs

What type of property is this?

Drug store - Walgreens building on a 2.01-acre parcel, constructed in 2005, offered with a 25-year NNN lease.

Where is this drug store located?

The property is located at 5305 Indian River Road Virginia Beach, VA.

What are key features of this property?

This property features: Walgreens retail building on an estimated 2.01‑acre parcel, constructed in 2005; Approximately 14,820 rentable SF building space; 25‑year triple‑net (NNN) lease commenced June 1, 2005