5236 Providence Rd Virginia Beach, VA 23464

This exceptional investment opportunity presents a freestanding McDonald's restaurant located at 5236 Providence Rd, Virginia Beach, VA 23464. The property boasts a recently renovated 3,397 square foot building on a 0.57-acre lot, constructed in 2001. This single-tenant, absolute NNN ground lease offers a strong corporate guarantee from McDonald's, a globally recognized brand with an S&P credit rating of BBB+. The lease commenced December 2nd, 2023, and has a remaining term of four years, with four five-year renewal options, each including a 10% rent increase. The current asking price is $2,067,000, representing a 4.25% cap rate and a price per square foot of $608.48. The property generates a net operating income (NOI) of $87,840 annually. This location benefits from high visibility in a major retail hub, situated at the intersection of Kempsville Rd (32K VPD) and Providence Rd (24K VPD), with over 800,000 square feet of retail within a one-mile radius, including nearby national tenants such as TJ Maxx, Kroger, Starbucks, Verizon, and Chase. The surrounding demographics are equally compelling, with over 322,000 people residing within a five-mile radius and an average household income nearing $100,000. The Fairfield Shopping Center, where this McDonald's is located, has recently undergone $1.5 million in capital improvements. This McDonald's has operated at this location for over 20 years and is currently ranked in the top 60th percentile nationally. This is a rare opportunity to acquire a high-performing, low-maintenance investment with a blue-chip tenant and significant upside potential.