Retail Ground Lease with Double
For Sale
$4,827,600
675 Lynnhaven Pkwy, Virginia Beach, VA 23452
Brand-new 2025 retail ground lease with double drive-thru on a hard corner at a signalized intersection.
Property Size2,691 SF
Days on Market51
Property Features for 675 Lynnhaven Pkwy
General Information
Standard status
Active
Size
2,691 SF
Property subtype
Commercial
Lease Type
NNN
Lease Term
±15 Years
Net Operating Income
$210,000
Additional Details
Lease Term
180 months
Building Details
Building Size
2,691 SF
Year Built
2025
Listing Agency:
Matthews
Listed By:
Jared Kaye · License #348701 (GA)
(404) 897-0452
Source:
Matthews
Added: Jul 26
Changed: Sep 6
Last Checked: Sep 14 at 5:06AM
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 Matthews
Investment Insights
Based on property information with market context.
This property is a brand-new 2025 retail construction built as the latest store prototype, featuring a double drive-thru configuration.
Located on the hard corner of a signalized intersection, the offering is structured as a newly developed ground lease. The lease provides a 15-year base term with five (5), 5-year renewal options and is described as a true NNN arrangement with no landlord responsibilities. Rent increases are scheduled at 10% every five years, and the lease is corporately guaranteed.
The public remarks also cite strong market fundamentals for the Virginia Beach submarket, including low vacancy of 1.7% and approximately 2.7 MM SF of inventory, along with the provided 1-mile, 3-mile, and 5-mile demographic figures for households and population.
Located on the hard corner of a signalized intersection, the offering is structured as a newly developed ground lease. The lease provides a 15-year base term with five (5), 5-year renewal options and is described as a true NNN arrangement with no landlord responsibilities. Rent increases are scheduled at 10% every five years, and the lease is corporately guaranteed.
The public remarks also cite strong market fundamentals for the Virginia Beach submarket, including low vacancy of 1.7% and approximately 2.7 MM SF of inventory, along with the provided 1-mile, 3-mile, and 5-mile demographic figures for households and population.
Key Highlights
- Brand‑new 2025 retail construction with the latest store prototype and double drive‑thru
- Located on the hard corner of a signalized intersection
- Newly developed ground lease with a 15‑year base term plus five (5) 5‑year renewal options
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,893
Businesses Nearby
431k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 42%
Apparel 25%
Superstores 23%
Shops & Services 8%
Walmart
Superstores
98,691 visits/mo
0.3 miles
Macy's
Apparel
69,264 visits/mo
0.5 miles
McDonald's
Dining
31,725 visits/mo
0.5 miles
Cracker Barrel Old Country Store
Dining
26,986 visits/mo
0.5 miles
Olive Garden
Dining
25,679 visits/mo
0.1 miles
Demographics for 23452, VA
59,076
Population
23,455
Households
2.5
Avg Household Size
37
Median Age
35%
College-Educated
95%
High-School Grad
15.1 sq mi
ZIP Area
3,912
Density / Sq Mi
$77,327
Median Household Income
$44,009
Median Earnings
$1,571
Median Rent
$324,000
Median Home Value
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Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Retail space - Brand-new 2025 retail ground lease with double drive-thru on a hard corner at a signalized intersection.
Where is this retail space located?
The property is located at 675 Lynnhaven Pkwy Virginia Beach, VA.
What is the asking price?
The asking price for this property is $4,827,600.
What are key features of this property?
This property features: Brand‑new 2025 retail construction with the latest store prototype and double drive‑thru; Located on the hard corner of a signalized intersection; Newly developed ground lease with a 15‑year base term plus five (5) 5‑year renewal options
