Listed by Sands Investment Group - FTL, Sands Investment Group Philadelphia
$2,500,000
Richlands Towne Center - Richlands, VA
Details
Property Type Retail
Sub Type Storefront, Shopping Center
Square Footage 37,800
Cap Rate 8.04%
NOI $201,107
Tenancy Multi
Price per SqFt $66
Year Built 1980
Acreage 2.060
Investment Type Value Add
Ground Lease No
Advance Auto Anchored Retail Center | Value-Add Upside | Richlands, VA
Marketing description
Sands Investment Group is pleased to exclusively offer for sale the 37,800 SF Richlands Towne Center located at 2000 - 2010 2nd Street in Richlands, VA. This retail center presents a compelling investment opportunity with two current vacancies, offering clear value-add potential through lease-up. By stabilizing the remaining space, an investor has the ability to increase NOI and enhance overall property value, making this an attractive opportunity for investors seeking both immediate income and future upside through strategic leasing.
Investment highlights
- Anchored by Advance Auto Parts, the center features a strong mix of national and local tenants, providing stable and diversified income.
- Two current vacancies offer a clear value-add opportunity through lease-up, allowing an investor to increase NOI and drive overall property value.
- Strategically located in the heart of Richlands, VA, the property sits along the town’s main retail corridor and stands as one of the most prominent retail centers in the market.
- Offered at an attractive basis below replacement cost, presenting investors with a compelling entry point at approximately $66.14 PSF.
- Top-performing Advance Auto Parts location, ranking in the 78th percentile nationwide and 62nd percentile within Virginia (Placer.ai), highlighting strong tenant sales and site productivity.
Listing Contacts
Listed by Sands Investment Group - FTL, Sands Investment Group Philadelphia
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$201,107.00
$16,758.92/mo
Valuation Metrics
0
DSCR
8.04%
Cap Rate
8.04%
ROI
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