Portfolio: ABC, Verizon & Advance Auto Parts — Sale in Exmore, VA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Retail Business
  • Location: Exmore, VA 23350
  • Year built: 2024

Photos

Portfolio: ABC, Verizon & Advance Auto Parts — Sale in Exmore, VA, photo 1 of 3
Portfolio: ABC, Verizon & Advance Auto Parts — Sale in Exmore, VA, photo 2 of 3
Portfolio: ABC, Verizon & Advance Auto Parts — Sale in Exmore, VA, photo 3 of 3

Investment Figures

Cap rate
7.52%

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

Marcus & Millichap is pleased to exclusively offer for sale a fully-occupied retail portfolio in Exmore, Virginia, located along the Eastern Shore of the Delmarva Peninsula. The portfolio consists of two high-quality retail properties totaling 12,412 square feet. The property is 100% occupied by three established national tenants: Virginia ABC, Verizon, and Advance Auto Parts. STRATEGIC CORRIDOR WITH EXCELLENT VISIBILITY - The property consists of a 6,912-square-foot building situated upon approximately 0.82 acres. It boasts prominent frontage along Lankford Highway (U.S. Route 13) with 17,000 VPD, which is considered the primary artery of the Eastern Shore. This section of the highway serves as the sole north-south transit route for the region, capturing both local daily traffic and seasonal beach traffic. It is also significant for transient-traffic traveling between Virginia Beach/Norfolk and points north toward Maryland and Delaware. LIMITED COMPETITION AND DOMINANT MARKET POSITION – The Verizon store benefits from its strategic positioning within the Eastern Shore market. The next closest Verizon store is located 20 minutes north, while the nearest location to the south is 1 hour and 12 minutes away. Virginia ABC also benefits from significant barriers to entry as the exclusive retailer of distilled spirits in Virginia. Unlike other states, liquor sales cannot be conducted through grocery stores or private retailers. Additionally, the nearest alternative ABC store is approximately 20 minutes away, reinforcing the importance of this location within the trade area. THE "DO-IT-YOURSELF" DEMOGRAPHIC - Given the rural and coastal geography of the Eastern Shore, residents typically rely on personal vehicles for long-distance commuting and daily logistics. This customer base is perfect for the tenant’s core business. Furthermore, the local workforce is heavily rooted in the agriculture, maritime, and trades sectors who possess a strong culture of self-reliance and mec

Market Context

This retail in Exmore, VA is listed for sale. It is offered at an approximate 7.5% capitalization rate, a key benchmark for income-producing retail assets. The building dates to 2024. Compare it against other retail listings for sale in Exmore, VA — view the full market.

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