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Guitar Center 5483 Virginia Beach Blvd 16,000 SF Retail Building Virginia Beach, VA 23462 $4,020,408 CAD ($251.28 CAD/SF) 8% Cap Rate
Investment Highlights
- Positioned within the Virginia Beach MSA – Ranked #37 in the United States for population size
- Guitar Center has executed multiple extensions demonstrating commitment
- Located along Virginia Beach Blvd (37,000 VPD) and near Newtown Rd (35,000 VPD)
- Successful operating history spanning multiple decades
- Below average 2.3% submarket vacancy (CoStar)
- Proximity to the Interstate 264 (212,000 VPD) / Interstate 64 (179,000 VPD) interchange
Executive Summary
The 16,000 square-foot building is positioned along Virginia Beach Boulevard, which carries approximately 37,000 vehicles per day, just off Newtown Road with an additional 35,000 vehicles per day. The property benefits from immediate access to the Interstate 264 and Interstate 64 interchange, generating roughly 212,000 and 179,000 vehicles per day, respectively. Surrounding retailers include Topgolf, La-Z-Boy, BMW, Audi, Toyota, AutoZone, CVS, and numerous other national and regional tenants. The corridor is further supported by strong daily traffic drivers including Sentara Leigh Hospital, Virginia Wesleyan University with approximately 5,000 students, and Bayside High School with roughly 2,000 students. More than 289,000 residents live within a five-mile radius, with average household income exceeding $105,000.
Guitar Center is the largest musical instrument retailer in the United States, founded in 1959 by Wayne Mitchell in Hollywood, California, initially as The Organ Center selling electronic organs before evolving in the mid-1960s—prompted by The Beatles’ influence and the addition of Vox amplifiers—into a guitar-focused store renamed Guitar Center. Headquartered in Westlake Village, California, the company operates over 300 stores nationwide and offers a wide range of products including guitars, basses, drums, amplifiers, keyboards, pro audio equipment, recording gear, and accessories, serving musicians at all levels through both physical locations and its online platform at guitarcenter.com.
Property Facts
Amenities
- Bus Line
- Pylon Sign
- Signage
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Retailer
- -
- -
- Sep 2031
Guitar Center est une entreprise composée de musiciens et de mélomanes. Ils sont animés par leur conviction commune que la musique est la plus grande force unificatrice au monde. Et cette idée alimente leur mission de remplir le monde de musique. Donner aux gens les outils dont ils ont besoin pour créer des liens et créer des liens. Être vu et entendu. Et récemment, pour aider et guérir. La musique peut remuer l'âme et changer la fréquence de la planète. Alors faisons un peu de bruit. Parce que le monde a besoin d'entendre ce que vous avez à jouer. En 1959, alors qu'une révolution de la contre-culture qui change le monde et change de paradigme est sur le point d'exploser en Amérique, Wayne Mitchell achète un petit magasin d'électroménager et d'orgue à Hollywood, en Californie. On dirait la fin de l'histoire, n'est-ce pas ? Pas même près. À l'aube du 21e siècle, The Guitar Center connaît une expansion incroyable. Par exemple, en 1999, ils ont acheté le détaillant en ligne Musicien's Friend pour offrir une option en ligne robuste aux musiciens.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Retailer | - | - | Sep 2031 |
Nearby Major Retailers
Property Taxes
| Parcel Number | 1467-47-1605 | Improvements Assessment | $1,750,003 CAD |
| Land Assessment | $1,524,405 CAD | Total Assessment | $3,274,408 CAD |
Property Taxes
Presented by
Guitar Center | 5483 Virginia Beach Blvd
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