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Prudent Growth Partners Acquires Castle Shops Retail Center In Chesapeake For $5.4M

Property Image
SOLD
$5,400,000
Jeff Fritz
Jay O’Donnell

Virginia

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Retail74,618 SF
Sold 10/23/2025
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Property Image
SOLD

Prudent Growth Partners Acquires Castle Shops Retail Center In Chesapeake For $5.4M

1105 South Military Highway & 1107 South Military Highway

See Similar Deals
Retail74,618 SF
Sold 10/23/2025
Jeff Fritz
Jay O’Donnell
the dealplayerscompscontact
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Summary

VIRGINIA
Asset Type:Retail
Price Per Square Foot:$72
Total Square Footage:74,618 SF
Transaction Type:Sale

Prudent Growth Partners acquired Castle Shops, a fully leased retail center located at 1105-1107 South Military Highway in Chesapeake, VA. The transaction was valued at $5.4 million, encompassing a total area of 37,309 square feet, which amounts to a price per square foot of $145. The property is anchored by Dollar Tree and includes tenants such as CHKD Thrift Store, Boost Mobile, and Liberty Tax.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $5,400,000
  • Square Footage: 37,309
  • Price per Square Foot: $145
  • Address: 1105-1107 South Military Highway
  • Market: Chesapeake, VA
  • Representing the Seller: Jeff Fritz & Jay O’Donnell - Colliers

The sale involved Colliers' brokers, Jeff Fritz and Jay O’Donnell, who represented the seller in this transaction. Their expertise facilitated the acquisition of this retail center, enhancing Prudent Growth Partners' portfolio in the Chesapeake market.

Players

Jeff Fritz
Colliers
Jeff Fritz
4 deals$28M volume(757) 228-1840
BROKER
Jay O’Donnell
Colliers
Jay O’Donnell
4 deals$28M volume(434) 284-4019
BROKER
Colliers
Colliers
BROKERAGE

Details

SOLD
IMAGE: 10/23/2025 ADDRESS: 1105-1107 South Military Highway MARKET: Chesapeake, VA ASSET TYPE: Retail BROKERS: Jeff Fritz & Jay O’Donnell - Colliers SALE PRICE: $5,400,000 SF: 37,309 ~ PPSF: $145 NOTE: Prudent Growth Partners acquired Castle Shops, a fully leased 37,309-square-foot retail center in Chesapeake, VA, for $5.4 million. The Dollar Tree–anchored property includes tenants such as CHKD Thrift Store, Boost Mobile, and Liberty Tax; Colliers’ Jeff Fritz and Jay O’Donnell represented the seller.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$288,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$19,185.06
Cash-on-Cash Return-1.27%
Monthly Debt Service$25,598.75
Annual Debt Service$307,185.06