Retail Business for Sale in Petersburg, VA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Retail Business
  • Location: Petersburg, VA 23803

Photos

Retail Business for Sale in Petersburg, VA, photo 1 of 2
Retail Business for Sale in Petersburg, VA, photo 2 of 2

Investment Figures

Cap rate
5.10%

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

NEW 20-YEAR NNN GROUND LEASE The Tenant, Wawa Inc., is subject to a new 20-year NNN ground lease opening November 2026. The lease features 10 percent rental increases every five years during the base term and six, five-year renewal options providing attractive revenue growth. Wawa will operate in a newly constructed 5,915-square-foot convenience store with 8 fueling pumps. AT THE ENTRANCE TO ALDI’S DIVISIONAL HQ AND PLANNED COMMERCIAL PADS The Property is positioned at the entrance to ALDI's 562,500-square-foot distribution center and divisional headquarters along Aldi Way. The $57 million investment on ~80 acres opened in 2018 and serves 70 to 80 ALDI stores across the Richmond-Petersburg, Hampton Roads, and eastern North Carolina markets. ALDI selected the site for its labor pool and transportation access, and the operation employs hundreds of workers and truckers, who pass the subject property each day. Additionally, Wawa will operate adjacent to other yet-to-be developed retail users, two 80-room hotels, and a proposed 144-unit apartment community. There are 5 potential pads available, presumed to include medical office, bank, drive-thru and general retail uses. 1.97 ACRE SIGNALED CORNER PARCEL WITH I-85 ACCESSIBILITY A 1.97-acre corner parcel along Route 1/Boydton Plank Road corridor, one of the primary commercial and commuter routes serving southern Petersburg and Dinwiddie County. It has direct connectivity to I-85 (45,000 VPD) via Exit 63A just one traffic light away. I-85 is the primary connection between Greater Richmond and the Research Triangle, Charlotte, and Atlanta. Accessibility to I-85 and nearby I-95 (113,000 VPD) is what attracted ALDI, Amazon, Walmart, CJ Logistics, and the surrounding distribution density to this corridor, and was a consideration in Wawa’s selection of this site. The subject location is also 1.3 miles from Dinwiddie County Airport, providing private, charter, and corporate flights totaling 30,000 flight operations each year. A P

Market Context

This retail in Petersburg, VA is listed for sale. It is offered at an approximate 5.1% capitalization rate, a key benchmark for income-producing retail assets. Compare it against other retail listings for sale in Petersburg, VA — view the full market.

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