35 Northumberland Hwy Callao, VA 22435
NN leased Family Dollar with scheduled rental increases and options.
Type:Retail
Property size:
16,100 SFPrice / SF:
$100/SF- Added:
- Oct 27, 2023
- Days on Market:
- 924
- Last Refresh:
- Mar 17 at 1:24 pm
Property Features for 35 Northumberland Hwy
General Information
- Standard status
- Active
- Size
- 16,100 SF
- Property subtype
- Retail
Listing agent Andrew Fallon License #VA 0225193951
Listing office SRS Real Estate Partners McLean
Listing date Oct 27, 2023
Source Crexi
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 SRS Real Estate Partners McLean
HighLights
- Corporate guaranteed lease by Family Dollar Stores of Virginia, LLC, providing a secure and reliable income stream.
- 7+ years remaining on the initial lease term with 5 (5‑year) options to extend, ensuring long‑term stability.
- Scheduled rental increases of $0.50/SF at the beginning of each option, offering potential for increased returns.
- Low rent occupancy cost at $7.00/SF NNN, maximizing profitability.
- Strategic location at a signalized, hard corner intersection with high visibility and multiple access points, attracting customers.
- 2023 renovation of a large format 16,100 SF store, previously a grocery store, featuring a wide range of inventory and modern amenities.
Overview
Family Dollar Investment Opportunity
This property features a Family Dollar store with over 7 years remaining on a 10-year lease, along with 5 (5-year) options to extend. The lease is corporate guaranteed by Family Dollar Stores of Virginia, LLC, and includes rental increases of $0.50/SF at the beginning of each option. The property is NN leased with fee simple ownership, offering limited landlord responsibilities, primarily for the roof, structure, and parking lot, as the tenant covers CAM, taxes, insurance, and most premises maintenance. The Family Dollar is strategically located off the signalized, hard corner intersection of Northumberland Hwy and Richmond Rd, which sees an average of 9,000 vehicles per day. The location offers excellent visibility via street frontage and multiple points of access. The 16,100 SF store underwent a renovation in 2023, converting it from a former grocery store to a large format Family Dollar. The store features multiple points of ingress and egress, ample parking, and new signage. It is conveniently located at a bus stop, across from a US Post Office, and next to the Callao Brewing Company in the center of town. The surrounding area supports the trade area with more than 12,000 residents and 3,200 employees. The average household income within a 3-mile radius is $82,876.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Grocery and convenience stores
Similar Places Nearby
- ATM (Stop In Food Stores) — 82 Northumberland Hwy, Callao, VA 22435
Location Insight
- Map
- Local Demand
- City
- Callao
- County
- Northumberland
- State
- Virginia
- Longitude
- -76.5592997
- Latitude
- 37.9692584
Nearby Similar for Sale
FAQs
What type of property is this?
Grocery and convenience store - NN leased Family Dollar with scheduled rental increases and options.
Where is this grocery and convenience store located?
The property is located at 35 Northumberland Hwy Callao, VA.
What is the asking price?
The asking price for this property is $1,610,000.
What are key features of this property?
This property features: Corporate guaranteed lease by Family Dollar Stores of Virginia, LLC, providing a secure and reliable income stream.; 7+ years remaining on the initial lease term with 5 (5‑year) options to extend, ensuring long‑term stability.; Scheduled rental increases of $0.50/SF at the beginning of each option, offering potential for increased returns.
