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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.

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.

Exclusively Listed By

Broker of Record

  • Brian Hosey

    First Vice President/ Division Manager

    (202) 536-3700

    License(s) VA: 0225247494

    Virginia

Shopping Strip

Spruce Street Station

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.

Exclusively Listed By

Broker of Record

  • Brian Hosey

    First Vice President/ Division Manager

    (202) 536-3700

    License(s): VA: 0225247494

    Virginia

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