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Towne Point Shoppes 3546-3590 Towne Point Rd 21,478 SF 94% Leased Retail Building Portsmouth, VA 23703 $5,909,103 CAD ($275.12 CAD/SF) 6% Cap Rate
INVESTMENT HIGHLIGHTS
- Early renewal with the US Post Office Churchland Station, lease through 2030
- Professionally managed, retail asset located in the Churchland area of Portsmouth immediately off the 164 bypass
- Newly built Royal Farms and Ocean Storage next door representing new investments in this trade area
- 21,478 SF shopping center on 2.19 Acres
- Signalized intersection with pylon sign
EXECUTIVE SUMMARY
Towne Point Shoppes is a professionally managed and well-established retail asset in the Churchland area of Portsmouth. Its 21,478 square feet of retail space on 2.19 Acres and anchored by the US Post Office Churchland Station since 2005.
It’s a convenient location adjacent to the 164 bypass offering easy access for customers. The signalized intersection and prominent pylon sign further enhance visibility and accessibility.
It’s a convenient location adjacent to the 164 bypass offering easy access for customers. The signalized intersection and prominent pylon sign further enhance visibility and accessibility.
PROPERTY FACTS Under Contract
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
21,478 SF
Building Class
C
Year Built
1978
Price
$5,909,103 CAD
Price Per SF
$275.12 CAD
Cap Rate
6%
NOI
$354,546 CAD
Percent Leased
94%
Tenancy
Multiple
Building Height
1 Story
Loading Docks
2 Exterior
Building FAR
0.23
Lot Size
2.19 AC
Zoning
C-1
Parking
65 Spaces (3.03 Spaces per 1,000 SF Leased)
Frontage
213’ on Bickford Pky
AMENITIES
- Bus Line
- Freeway Visibility
- Pylon Sign
- Signage
- Signalized Intersection
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 0827-0950 | Improvements Assessment | $3,515,516 CAD |
| Land Assessment | $1,004,262 CAD | Total Assessment | $4,519,778 CAD |
PROPERTY TAXES
Parcel Number
0827-0950
Land Assessment
$1,004,262 CAD
Improvements Assessment
$3,515,516 CAD
Total Assessment
$4,519,778 CAD
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Towne Point Shoppes | 3546-3590 Towne Point Rd
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