Onancock, VA - Peninsula Center

Description:

SRS Multi-Tenant Investments is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in Peninsula Center, a 76% occupied retail and healthcare building located at 165 Market Street in Onancock, Virginia. The property is anchored by DaVita Kidney Care, a national healthcare provider with approximately 5 years remaining on its current lease and three (5-year) renewal options, underscoring their long-term commitment to the location. Additional tenants include NeuBeam, with 2.8 years remaining, and V’Lona’s Unique Venue on a month-to-month lease, providing a blend of stable income and upside through future repositioning. The leases are structured to provide minimal landlord responsibilities, offering a low-management opportunity for investors seeking long-term income stability in a health and service-oriented asset.

The property is ideally positioned along Market Street (5,600 VPD), just 2 miles from U.S. Route 13 (26,000 VPD), the region’s primary north-south artery. It is located less than 2 miles from several national retailers including the Marshall’s-anchored Four Corner Plaza (148,000 SF), the Tractor Supply Co.-anchored Chesapeake Square (110,416 SF), and a Walmart Supercenter. Onancock’s commercial corridor continues to support a healthy mix of essential service, retail, and grocery anchors including Subway, Food Lion, and Hardee’s. The property benefits from its close proximity to Riverside Shore Memorial Hospital (less than 1 mile), Downtown Onancock, and the Historic Onancock Wharf (1 mile), strengthening its appeal to both medical and consumer traffic. The 5-mile trade area is supported by a population of 7,841 and an average household income of $83,394, offering strong consumer fundamentals in a stable, regional market.