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3019 George Washington Memorial Hwy
Hayes, VA 23072
Starbucks · Retail Property For Sale
Investment Highlights
- Rare 15-Year Lease
- Attractive Rent Increases
- Strategic Retail Location
- New Construction
- Investment Grade Credit
- Great Retail Trade Area
Executive Summary
Horvath & Tremblay is pleased to present the exclusive sale of a corporate leased Starbucks investment property located at 3019 George Washington Memorial Highway in Hayes, Virginia (the “Property”). Starbucks is operating under a rare, 15-year lease, and is followed by six (6), 5-year renewal options. The lease features attractive 10% rent increases every five years throughout the primary lease term and at the start of each renewal option.
Starbucks is located along the George Washington Memorial Highway (US Highway 17) and enjoys excellent visibility, frontage, and prominent signage. The new construction Property is adjacent to the signalized intersection with Powhatan Drive, which is home to Wendy’s, Chesapeake Bank, and 7-Eleven, and is less than 1.2-miles from the area’s two grocery anchored shopping centers. Hayes is located in the southeastern part of Virginia and is 16-miles north of Newport News, 40-miles north of Norfolk, and 65-miles southeast of Richmond.
Starbucks is located along the George Washington Memorial Highway (US Highway 17) and enjoys excellent visibility, frontage, and prominent signage. The new construction Property is adjacent to the signalized intersection with Powhatan Drive, which is home to Wendy’s, Chesapeake Bank, and 7-Eleven, and is less than 1.2-miles from the area’s two grocery anchored shopping centers. Hayes is located in the southeastern part of Virginia and is 16-miles north of Newport News, 40-miles north of Norfolk, and 65-miles southeast of Richmond.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Retail
Building Size
2,500 SF
Building Class
B
Year Built
2024
Price
$3,642,756 CAD
Price Per SF
$1,457.10 CAD
Cap Rate
6.25%
NOI
$227,718 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.06
Lot Size
0.94 AC
Zoning
B-1
Property Taxes
| Parcel Numbers | Improvements Assessment | $3,472,777 CAD | |
| Land Assessment | $1,907,133 CAD | Total Assessment | $5,379,910 CAD |
Property Taxes
Parcel Numbers
Land Assessment
$1,907,133 CAD
Improvements Assessment
$3,472,777 CAD
Total Assessment
$5,379,910 CAD
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