Shopping Strip
Spruce Street Station
1101 Brookdale St, Martinsville, VA 24112
Listing Price: $7,800,000
Cap Rate
7.25%
Gross SF
48,052
Rentable SF
48,052
Price/Gross SF
$162.32
Lot Size
8.31 acres
Year Built
1988
Investment Overview
Marcus & Millichap is pleased to present for sale Spruce Street Station located in Martinsville, VA.
Spruce Street Station
Investment Highlights
- 48,000 SF Grocery Anchored Shopping Center
- Investment Grade Credit Anchor Tenant | Food Lion (Ahold-Delhaize: S&P: BBB Credit Rating)
- 20-Year Food Lion Operating History | Long Term Successful Location
- 80% of Total Income from Food Lion | 61% of Shops Income from Medical
- Anchor Exercised Renewal in 2022 | Five, Renewal Options Remaining
- Significant Capital Improvements 2018-2021 | Tenant and Landlord
- Food Lion Remodeled Store Interior in Past 4 Years
- Adjacent to Major Demand Drivers: Hospital, Medical Offices, Apartments, Etc.
Listing Price: $7,800,000
Cap Rate
7.25%
Gross SF
48,052
Rentable SF
48,052
Price/Gross SF
$162.32
Lot Size
8.31 acres
Year Built
1988
Investment Highlights
- 48,000 SF Grocery Anchored Shopping Center
- Investment Grade Credit Anchor Tenant | Food Lion (Ahold-Delhaize: S&P: BBB Credit Rating)
- 20-Year Food Lion Operating History | Long Term Successful Location
- 80% of Total Income from Food Lion | 61% of Shops Income from Medical
- Anchor Exercised Renewal in 2022 | Five, Renewal Options Remaining
- Significant Capital Improvements 2018-2021 | Tenant and Landlord
- Food Lion Remodeled Store Interior in Past 4 Years
- Adjacent to Major Demand Drivers: Hospital, Medical Offices, Apartments, Etc.
Investment Overview
Marcus & Millichap is pleased to present for sale Spruce Street Station located in Martinsville, VA.
