Carrabba's - North Chesterfield, VA — Sale in Richmond, VA

  • Price: $3M
  • Listing type: For sale
  • Asset type: Retail Business
  • Location: Richmond, VA 23235
  • Size: 6,692 SF
  • Year built: 2001

Photos

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Investment Figures

Cap rate
6.00%
Price per square foot
$441

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to present the opportunity to acquire a single-tenant Carrabba’s Italian Grill located at 11450 Midlothian Turnpike in North Chesterfield, Virginia (the “Property” or “Asset”), within the Richmond MSA. The Property is subject to an absolute NNN ground lease with approximately 10 years of remaining lease term, featuring 10.0% rent escalations every five years and zero landlord responsibilities, providing investors with secure, long-term passive income. This unique opportunity allows investors the ability to acquire long-term passive income from a widely recognized casual-dining operator with high value intrinsic real estate.

Market Context

This retail in Richmond, VA is listed for sale at $2,953,000 across 6,692 SF. It is offered at an approximate 6.0% capitalization rate, a key benchmark for income-producing retail assets. The building dates to 2001. Compare it against other retail listings for sale in Richmond, VA — view the full market.

As of Q2 2026, the Richmond retail market showed a 3.6% vacancy rate, and average asking rents near $19.71/SF/yr. Source: Cushman & Wakefield Q2 2026 market report.

Tight vacancy keeps competition for quality space elevated.

Retail market FAQ

Is the Richmond retail market tightening or softening?
Vacancy is around 3.6% (Q2 2026).

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