Linden Square
Retail | 8.00% CAP | 27,705 SqFt
Marketing description
High-Traffic Bristol Corridor
Roughly 40,960 vehicles per day pass the site, giving the center strong visibility and access for its necessity-based tenants.
Established Kingsport–Bristol Trade Area
Positioned in Southwest Virginia within the Kingsport–Bristol MSA, Linden Square serves everyday retail demand across the surrounding region.
Service- & Medical-Oriented Tenant Base
Anchored by health, professional-service, and education users such as Lebanon Physical Therapy, Edward Jones, and Connections Education, the center draws consistent, recurring local traffic.
Investment highlights
Attractive Going-In Yield at a Discount to Comps
An 8.00% cap rate on $170,042 NOI at $2.125M ($77 PSF), priced below comparable sales averaging $85.12 PSF / 8.15% cap.
Stable, Largely NNN Rent Roll
87% occupied with mostly NNN leases and ~85% expense reimbursement, diversified across a service-heavy tenant mix (38% Office/ Professional, 22% Restaurant, 21% Health & Beauty, 6% Education).
Embedded NOI Growth Through Below-Market Rents
In-place rents average ~$9.08 PSF with contractual step-ups, renewal options, and two vacant suites to lease, supporting projected base-rent growth from ~$243K to ~$350K over the hold.
Major Economic Growth Driver – Hard Rock Casino
Bristol’s $550M Hard Rock Hotel & Casino opened in November 2024, drawing 1.2M+ visitors in year one and projecting $1B+ in annual regional economic impact, anchoring new retail and F&B demand.
Resilient Local & Regional Tenancy
75% of GLA and 79% of revenue come from local and regional operators in a necessity- and service-oriented mix that has proven durable through cycles
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