Lakewatch Retail Center - Moneta, VA
Mixed-Use Center with Significant Upside | 40% Below-Market Rents | Major Vacation Destination
Marketing description
We are pleased to exclusively offer for sale the Lakewatch Retail Center at 50–60 Firstwatch Drive, a 21,360 SF property situated in the affluent trade area of Moneta, VA. The center benefits from strong demographics, including average household incomes above $124,000 and a steady customer base of full-time residents, lake-home owners, and retirees. Anchored by a reliable tenant mix of national and local brands, including Domino’s, the property maintains consistent traffic and stability. Additionally, the asset presents a compelling value-add opportunity, with current rents significantly below market and substantial upside available through lease-up, renewals, and strategic re-tenanting.
Investment highlights
40% Below-Market Rents: Significant upside through lease-up, renewals, and re-tenanting.
Affluent Trade Area: AHHI $124,000+, driven by permanent residents, lake-home owners, and retirees.
Strong Tenant Mix: Includes national brand Domino’s, providing stability and consistent customer draw.
Major Vacation Destination: Located at Smith Mountain Lake, one of Virginia’s top recreation markets with strong seasonal traffic.
Growing Retail Corridor: Increasing demand from both year-round residents and peak-season visitors, limited competing supply.
Diverse Customer Base: Captures local, second-home, and tourist spending.
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