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Virtual Drive-By

Burlington Multi-tenant

5610 Hopkins Road · Richmond, VA 23234 · Specialty Retail

Asking price
$23,000,000
Cap rate
7.00%
NOI
$1,604,834

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Lease

Lease type
Term remaining
Expiration
Rent bumps
Options
Ground leaseNo
Credit profile
TenancyMulti

Planning a 1031 Exchange

Give us your relinquished sale close date and we will calculate your 45-day identification and 180-day closing deadlines, track the clock, and surface matching inventory before it expires. We coordinate directly with your Qualified Intermediary and can introduce one if you have not yet engaged an exchange accommodator. Investment Grade does not provide tax or legal advice.

Property

Building SF162,671
Price / SF$141
Year built
Lot size13.13 ac
TypeShopping Center
Days on market33

Need year-one bonus depreciation

Building age, size and improvement mix drive how much of this asset a cost segregation study can accelerate into year one. Tell us your tax year and entity and we will model the deduction.

Investment highlights

  • Walmart Neighborhood Market anchors the center on a long term ground lease
  • Marshalls (TJX) and Burlington recently signed 10 year leases and are now open for business
  • Marshalls is a relocation from nearby Meadowdale Center, demonstrating the strength of the subject property’s prime location within the trade area
  • Two outparcel buildings (NAP) have recently signed new leases, further underscoring the strong tenant demand for the property
  • The Walmart Neighborhood Market Ground Lease is separately parceled, allowing an investor the opportunity to sell off at a compressed cap rate and reduce their basis
  • Grow Generation (dark) recently subleased their space to Hair Depot at their same contractual lease terms, further highlighting the exceptional tenant demand for the center
  • New national QSR currently under development at the hard corner (may be available separately; contract Broker for more details)
  • Meadowbrook Plaza attracted 2 million visitors last year, prior to Marshalls and Burlington opening for business (source: Placer.ai)
  • Ideally located at the off ramp of Chippenham Parkway (VA State Route 150) and benefits from combined traffic counts of 71,930 VPD

Property overview

Meadowbrook Plaza is Anchored by Walmart Neighborhood Market and recently added Burlington and Marshalls to the tenant roster.​ Marshalls relocated from Meadowdale Center, the nearest competing grocery anchored center.​ The center has undergone major recent renovations, including new roofs, structural work, new signage and facade.​

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Asking-market observation aggregated from public listing sources, last observed Sep 4, 2026. Figures are asking price and asking cap rate as published by the listing party, not a verified closed transaction. Lease terms shown where reported by the listing party and not independently verified. Shown for market reference only; this is not an offering. Investment Grade Income Property, LP represents buyers on a cooperating commission basis.