1700 Mercury Blvd Hampton, VA 23666-3333

Exceptional investment opportunity: a brand-new, 15-year absolute NNN lease with Chase Bank in Hampton, Virginia's Peninsula Town Center. This 3,322 square foot, drive-thru equipped bank boasts a 5.00% cap rate and $215,000 NOI. Located on a 0.8-acre lot with 29 parking spaces, the property benefits from a hard-corner, signalized intersection with excellent visibility and access. The lease, commencing October 1, 2024, and expiring October 1, 2039, includes four 5-year renewal options with 10% rent increases every five years. The property is situated within a thriving retail corridor, near major retailers and benefiting from the high traffic of Peninsula Town Center (7.3 million annual visitors), and is surrounded by residential and hospitality complexes. The strong demographics of the 5-mile trade area, including over 199,600 residents and 115,500 daytime employees with an average household income of $81,938, further enhance the investment potential. The asking price is $4,300,000, representing a price per square foot of $1,294.40. This is a management-free investment with zero landlord responsibilities, making it an ideal opportunity for passive investors. The property's Limited Commercial (C-2) zoning and APN 13002031 are noted for reference.