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Best Buy 11200 W Broad St 45,391 SF Retail Building Glen Allen, VA 23060 $11,208,746 CAD ($246.94 CAD/SF) 7.50% Cap Rate
Investment Highlights
- Below Market Rents - Tremendous Rental Upside - True Value Add
- 7.5% Cap Rate
- No Vacant Available Big Boxes
- Absolute Net Bondable Lease
- Oversized 6.13 Acre Parcel
- Strong MidAtlantic Retail Corridor
Executive Summary
This investment opportunity is uniquely positioned in the heart of Short Pump, one of the most affluent and high growth retail submarkets in the Mid-Atlantic. At $13.62 PSF,
the rent is significantly below market for this corridor, providing a “safety net” for an investor through a low basis and massive intrinsic real estate value.
This is not just a passive income play; it is a strategic real estate acquisition. With only 3.5 years remaining on the primary term and a rent of $13.62 PSF, the asset offers a rare “win-win” scenario:
1. If Best Buy Renews: The investor continues to collect stable, bond-like income from an investment grade tenant in a trophy location.
2. If Best Buy Vacates: The owner recaptures a 6.13-acre site in the most desirable retail pocket of Richmond, where market rents for similar big-box spaces often exceed $20-25 PSF.
the rent is significantly below market for this corridor, providing a “safety net” for an investor through a low basis and massive intrinsic real estate value.
This is not just a passive income play; it is a strategic real estate acquisition. With only 3.5 years remaining on the primary term and a rent of $13.62 PSF, the asset offers a rare “win-win” scenario:
1. If Best Buy Renews: The investor continues to collect stable, bond-like income from an investment grade tenant in a trophy location.
2. If Best Buy Vacates: The owner recaptures a 6.13-acre site in the most desirable retail pocket of Richmond, where market rents for similar big-box spaces often exceed $20-25 PSF.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Storefront
Building Size
45,391 SF
Building Class
B
Year Built
1999
Price
$11,208,746 CAD
Price Per SF
$246.94 CAD
Cap Rate
7.50%
NOI
$840,656 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.17
Lot Size
6.13 AC
Zoning
M-1C - Light Industrial District
Parking
425 Spaces (9.36 Spaces per 1,000 SF Leased)
Moderately walkable
60/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 743-761-2163 | Improvements Assessment | $3,668,978 CAD |
| Land Assessment | $5,755,943 CAD | Total Assessment | $9,424,921 CAD |
Property Taxes
Parcel Number
743-761-2163
Land Assessment
$5,755,943 CAD
Improvements Assessment
$3,668,978 CAD
Total Assessment
$9,424,921 CAD
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Best Buy | 11200 W Broad St
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