Shopping Strip

Richlands Portfolio

2506 S Front St, Richlands, VA 24641

Listing Price: $2,800,000

Cap Rate
8.18%
Gross SF
47,010
Rentable SF
47,010
Price/Gross SF
$59.56
Lot Size
3.00 acres
Year Built
1995

Investment Overview

Marcus & Millichap is proud to present a Retail Strip Center Portfolio, located in the heart of Richlands, Virginia. The Portfolio consists of 2 - 5 Tenant Strip Centers that are half a mile apart. One Center is Anchored by an Advance Auto Parts on a brand new, 10 year lease, at $5.00 per square foot. The other Center is Anchored by a Goodwill and shadow anchored by Food Lion and Big Lots.

The assets are comprised of both national and local tenants which drive residence to the property. The centers are located near multiple national food retailers such as McDonald's, Burger King, Wendy's, and Hardee's. They are also near other national retailers such as Family Dollar, United States Postal Service, BB&T, and Wells Fargo, which drive more consumers toward the properties.

The Shopping Centers are located right off of Front St and 2nd St, which see 13,000 and 7,000 Vehicles Per Day, respectively. The population within 5 miles of the assets is just above 12,000 people. The Centers are also in close proximity to I-460, a major highway that travels through Richlands toward West Virginia.

The value-add component in this investment opportunity is filling the current vacancies at market rate rents.

Investment Highlights

  • Retail Strip Center Portfolio
  • 2 Shopping Strips Comprised of 10 Total Tenants
  • Anchored by Goodwill and Advance Auto Parts
  • Region Specific Tenants Drive Local Residents to Centers
  • Located in Main Retail Corridor of Richlands
  • Close Proximity to I-460

Exclusively Listed By

Listing Price: $2,800,000

Cap Rate
8.18%
Gross SF
47,010
Rentable SF
47,010
Price/Gross SF
$59.56
Lot Size
3.00 acres
Year Built
1995

Investment Highlights

  • Retail Strip Center Portfolio
  • 2 Shopping Strips Comprised of 10 Total Tenants
  • Anchored by Goodwill and Advance Auto Parts
  • Region Specific Tenants Drive Local Residents to Centers
  • Located in Main Retail Corridor of Richlands
  • Close Proximity to I-460

Investment Overview

Marcus & Millichap is proud to present a Retail Strip Center Portfolio, located in the heart of Richlands, Virginia. The Portfolio consists of 2 - 5 Tenant Strip Centers that are half a mile apart. One Center is Anchored by an Advance Auto Parts on a brand new, 10 year lease, at $5.00 per square foot. The other Center is Anchored by a Goodwill and shadow anchored by Food Lion and Big Lots.

The assets are comprised of both national and local tenants which drive residence to the property. The centers are located near multiple national food retailers such as McDonald's, Burger King, Wendy's, and Hardee's. They are also near other national retailers such as Family Dollar, United States Postal Service, BB&T, and Wells Fargo, which drive more consumers toward the properties.

The Shopping Centers are located right off of Front St and 2nd St, which see 13,000 and 7,000 Vehicles Per Day, respectively. The population within 5 miles of the assets is just above 12,000 people. The Centers are also in close proximity to I-460, a major highway that travels through Richlands toward West Virginia.

The value-add component in this investment opportunity is filling the current vacancies at market rate rents.

Exclusively Listed By

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