2090 Princess Anne Rd - Sandbridge Place
6,390 SF Retail Condo Unit Offered at $2,721,446 CAD in Virginia Beach, VA 23456
INVESTMENT HIGHLIGHTS
- Prime location situated in a high-traffic area near major retailers like Harris Teeter and FOod Lion ensuring strong visibility and foot traffic.
- Purpose-built facility designed specifically for Anytime Fitness aligning with franchise standards.
- Strong surrounding demographics located in an area with high household incomes, supporting long-term business viability.
- Established tenant, Anytime Fitness franchise with a long-term lease, including two five-year extensions option providing stable income for investors.
- Newer construction built in 2016, offering modern infrastructure and minimal maintenance concerns.
- Listed below appraised value presenting a potential value opportunity for buyers.
EXECUTIVE SUMMARY
Sandbridge Place is a single-story retail center totaling approximately 15,325 sf constructed in 2016. Of that, 6390 sf was specifically built for Anytime Fitness franchise. The property is strategically located between a Food Lion anchored shopping center at the corner of Princess Anne and Sandbridge Road, and a CHKD pediatric office. It is also situated across from Sandbridge Commons, a Harris Teeter-anchored center, benefiting from strong household incomes in the surrounding area. Currently, Suite 100 is occupied by an Anytime Fitness franchise, which is the anchor of this retail center.
PROPERTY FACTS
1 UNIT AVAILABLE
Unit 1
| Unit Size | 6,390 SF |
| Price | $2,721,446 CAD |
| Price Per SF | $425.89 CAD |
| Condo Use | Retail |
| Sale Type | Investment |
| Cap Rate | 5.71% |
| NOI | $155,438.97 CAD |
| No. Parking Spaces | 100 |
DESCRIPTION
Prime investment opportunity! This business condominium was purpose-built for an Anytime Fitness franchise by its original owner, who is the owner of the unit now for sale. The current franchisee holds a lease through 2029 with two additional five-year extension options, ensuring long term stability and positive cash flow.
Key features:
Four bathrooms; two with showers
Built to Anytime Fitness franchise specifications
Listed at $1.9 million - below appraised value
This is a strong investment in a growing market area.
SALE NOTES
Prime investment opportunity! This business condominium was purpose-built for an Anytime Fitness franchise by its original owner, who is the owner of the unit now for sale. The current franchisee holds a lease through 2029 with two additional five-year extension options, ensuring long term stability and positive cash flow.
Key features:
Four bathrooms; two with showers
Built to Anytime Fitness franchise specifications
Listed at $1.9 million - below appraised value
This is a strong investment in a growing market area.
MAJOR TENANT INFORMATION Click Here to Access
| TENANT | SF OCCUPIED | LEASE END DATE |
|---|---|---|
| Anytime Fitness |
-
|
Jan 0000
|
AMENITIES
- 24 Hour Access
- Dedicated Turn Lane
- Freeway Visibility
- Security System
- Signage
- Tenant Controlled HVAC
- Wheelchair Accessible
- Storage Space
- Monument Signage
- Air Conditioning
- Fiber Optic Internet
- Smoke Detector
NEARBY MAJOR RETAILERS
ZONING
| Zoning Code | B-2 (Business) |
