Blue Pearl Buffet 6820 Commerce St 8,631 SF Retail Building Springfield, VA 22150 $5,475,960 CAD ($634.45 CAD/SF) 6.43% Cap Rate

Irreplaceable ±0.93-Acre Pad in a Supply - Constrained Corridor – The Property offers a rare opportunity to acquire approximately 0.93 acres with an 8,631-square-foot freestanding building situated directly in front of an ALDI-anchored shopping center and across the street from a LIDL-anchored center in one of Springfield, Virginia's premier retail corridors.
In-Place Income with Redevelopment Potential – The Property is currently occupied by Blue Pearl Buffet, a proven restaurant that has operated at the site since 2003. Prior to that, it was also a successful restaurant, Dragon Sea Buffet. The existing tenant is subject to a five-year lease running through December 31, 2029 with 3% annual escalations, with one five-year renewal option. The lease has a personal guaranty. Should the tenant renew its option, the owner can reset the below-market rent to prevailing market rate via Fair Market Value (FMV) language with continued 3% annual increases, creating meaningful upside.
Flexible C-8 Zoning – With favorable C-8 commercial zoning and a large, well-configured lot offering 59 parking spaces (6.71 per 1,000 SF), the site could accommodate a wide range of higher-and-better uses. C-8 zoning allows various uses, including but not limited to general retail, restaurant, quick-service/drive-thru, bank, day care facility, hotel/motel, public service, religious facility, educational/school, recreation, funeral home, or other retail redevelopment. It is ideal for an owner-user or developer that can capture near-term income from the in-place restaurant while securing entitlements and permits.
Dominant Retail Synergy & National Co-Tenancy – The immediate trade area is anchored by an exceptional concentration of national credit retailers, including Whole Foods, ALDI, Lidl, Giant, Trader Joe's, Starbucks, Paris Baguette, Truist, Capital One, Wells Fargo and more, all within one-mile. The corridor is further reinforced by strong hospitality demand within the immediate area from TownePlace Suites, Homewood Suites, Best Western, Motel 6, and Courtyard by Marriott, driving consistent daytime and overnight traffic past the site.
Strong, Affluent Washington, D.C. Metro Demographics – The Property benefits from a dense, high-income base with 116,117 residents and an average household income of $170,370 within three-miles, and 336,966 residents earning an average of $165,981 within five-miles. These fundamentals support both continued restaurant operations and a broad spectrum of redevelopment uses, appealing to owner-users, investors, and developers alike.