46,700 Square Foot Retail Space For Sale @ 1051 Village Hwy

The opportunity is a multi-tenant, grocery anchored neighborhood shopping center situated on 8.55 acres in Rustburg, Virginia, the county seat for Campbell County. Constructed in 1999, the Property features a single-story building totaling 46,700 sq. ft. located at 1051 Village Highway, situated near the signalized intersection along Village Highway (State Road 24) and Highway 501. The Property is 100% occupied and anchored by Food Lion (62.10% of NRA; 57.30% of total revenue) whose lease expires in May, 2019, with four, 5-year options remaining. The second largest tenant is Family Dollar (17.99% NRA; 13.21% of total revenue) which has been in-place since 1997 with a current lease expiration of December 2017. Other tenants include Edward Jones, Subway, Domino’s, Yaoshi Healthcare, Star East Restaurant, Pit Stop Barbershop, and a Virginia ABC store. Two of the stores were recently renovated, the ABC store in 2015 and Domino’s in 2016. The Property is conveniently located off Village Highway and is 11 miles south of Lynchburg, Va. Roanoke is 61 miles to the west, Danville is 62 miles to the south, and Richmond is 111 miles to the east. The Campbell County Municipal Offices are all located in close proximity to the Property. Surrounding land uses include a mix of residential and retail properties to the north and east; commercial and municipal properties to the west; vacant land to the south. Businesses in the area include Royal Tire and Service, Southern Pride Carwash, Mellinium Fashions, First National Bank, BB&T, US Post Office, Rustburg Family Pharmacy, Long Mountain Motor Sales, Franklin Auto Repair, Countryside Florist, and Wisecarver Insurance Agency. Local amenities include La Carreta, Courthouse Café, Exxon, Marathon Gas, Long Mountain Grocery, Napoli’s Italian, Rustburg Mini-Mart, Laundry Land, and Lunch Box & Catering. The most recent NOI for the period ending December 2016 was $366,301 with a Year One As-Is NOI estimated at $380,482. This investment offers potential upside with three tenants having rent steps in 2017, renewal opportunity with Family Dollar, and stable cash flow with the majority of the tenants having leases with two to eight years remaining.