This is a unique offering which includes two stabilized retail properties and three separate development land assemblages. City Line Plaza is an existing neighborhood center with over 27,000 SF of leasable area, located in the desirable Churchland (Portsmouth/Chesapeake border) submarket. Carrollton Cove Shoppes includes +/- 10,000 SF of existing retail, plus two pad-ready sites for expansion of this center. The three development sites are all located along US Route 17 in Carrollton, Virginia - convenient to northern Suffolk, Smithfield and Newport News. Northern Suffolk and Carrollton have experienced significant growth in recent years and these properties are well located, offering unique residential and mixed-use development opportunities with significant presence on the main thoroughfare.

This portfolio offering is a total of +/- 26 acres of land, comprising two strip centers and three sites zoned and ready for development. Each asset is available individually, however the seller is offering a significant discount for an investor who acquires the entire portfolio. There is significant value-add opportunity with the existing income properties and potential development.

Call Ed Denton or Chris Burnett for more information at (757) 354-2115.

Portfolio Price: $7,000,000

  • City Line Plaza in Churchland

  • Carrollton Cove Shoppes on US 17

  • Three Development Sites on US 17

City Line Plaza

  • +27,000 SF Leasable Area

  • Strong occupancy history

  • 9%+ Cap on Year 1 Proforma

  • Restaurant available to re-tenant

  • Near term value-add opportunity

Carrollton Cove Shoppes

  • +/- 10,000 SF Leasable Area

  • Two shovel ready pad sites

  • Drive-Thru Approved

  • +/- 17,000 SF Expansion Area

  • High Occupancy