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Callao, VA - Family Dollar

$1,610,000

35 Northumberland Highway, Callao, VA 22435

Active
Last Updated: 08/06/2025

7

Cap Rate

112,700

NOI

Details:
Cap Rate:    7%
NOI:    $112,700
Building Size:    16,100 sqft
Lot Area:    1.64 acres
Occupancy:    100%
Year Built:    2023
Tenancy:    Single
Description:

• 7+ years remaining on a 10-year lease with 5 (5-year) options to extend, demonstrating their long-term commitment to the site
• The lease is corporate signed by Family Dollar Stores of Virgina, LLC
• $0.50/SF rental increases at the beginning of each option
• Low rent occupancy cost with rent of $7.00/SF
• Family Dollar is strategically located off the signalized, hard corner intersection of Northumberland Hwy and Richmond Rd averaging
9,000 VPD
• Limited competition as there are only a few discount stores serving the immediate trade area
• The asset has excellent visibility via street frontage and multiple points of access, providing ease and convenience for customers
• 2023 renovation of a former grocery store, featuring Family Dollar merchandise
• Large format store allowing for wide range of inventory with emphasis on more grocery aisles, drink coolers, and freezer section
• Multiple points of ingress & egress, with ample parking, and new signage has great visibility from signalized intersection
• Conveniently located at a bus stop, across from US Post Office, and next to the Callao Brewing Company in the center of town

Map:
Location
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