3110 Allainby Way Hampton, VA 23666
- Lifestyle centers
- 9,293 SF
- 0.27 lot acres
Current Use by Public Records
- Canvas Social Cuisine / Restaurant
Property Details for 3110 Allainby Way
- Year built
- 2009
- Lot size
- 0.27 lot acres
- Property size
- 9,293 SF
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This exceptional 9,293 square foot shopping center in Hampton, VA, presents a compelling investment opportunity. Located within the thriving Peninsula Town Center (PTC), a 1.4 million square foot mixed-use development, this fully leased, multi-tenant property boasts a 7.50% cap rate and a strong NOI of $158,477. Built in 2009, the center benefits from a prime location with immediate access to major highways (I-64, I-664, and Mercury Boulevard), providing excellent visibility and accessibility. The property includes 4,207 free parking spaces for tenants and visitors. Tenants enjoy access to exclusive marketing services, yearly events, and monthly giveaways offered through the Owner's Association. The property is zoned C-2 and sits on a 0.27-acre lot (APN: 13004538). The asking price is $2,113,000 ($227.38/sq ft). The center's tenant mix is diverse and includes a recently signed lease with Shah's Halal Food. The property's location within the bustling Hampton Roads market, known for its significant military presence, ensures a consistent stream of customers. The recently remodeled Target anchor store further enhances the shopping experience within PTC, Virginia's most visited shopping center. This property offers limited management responsibilities due to the professionally managed common areas.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Hampton
- County
- Hampton
- State
- Virginia
- Longitude
- -76.3948
- Latitude
- 37.044
