Shops to Spradlin Farms - Freestanding FOR SALE


Christiansburg, VA 24073
$4,250,000 USD
949-903-3399
Shops to Spradlin Farms, Christiansburg, VA for Sale
$4,250,000 USD
Freestanding - FOR SALE
1/7
null | 6% Cap Rate

Shops to Spradlin Farms
Christiansburg, VA 24073


HIGHLIGHTS

  • 100% Occupied Multi-Tenant NNN Class A Property - Synergistic Mix Essential National/Regional Tenants
  • High Profile Shops to Super Target - Spradlin Farms Power Center (181K SF) - Home Depot/TJ Maxx/Petco
  • Proven Essential Retailers - Recent 2020 Lease Executions - Staggered Lease Terms/Below Market Rents
  • Affluent Suburb Outside of Roanoke with Strong Demo’s ($83,889 HHI) - New River Valley’s Retail Hub
  • Pride of Ownership Brick Construction - Excellent Inflation Hedge with Rent Bumps - Huge Traffic Flows
  • Positioned with all Major Retail (New River Valley Mall/Walmart/Lowes) - Near Virginia Tech University •

OVERVIEW

We are pleased to offer to qualified investors an opportunity to acquire a 100% occupied, multi-tenant retail asset (Spradlin Farms Shops) that is fully leased to national tenants in the main retail trade cohort of Christiansburg, VA. The subject property is a 13,955 square foot freestanding retail building that is situated on a 1.82 acre lot directly adjacent to Target and is a part of the 181,055 SF Spradlin Farms regional shopping center anchored by T.J. Maxx, Michaels, Petco, Barnes & Nobles, Big Lots and shadow Anchored by Target and The Home Depot. Located just 6 miles from Virginia Tech, the subject property benefits from its proximity to the university which has over 37,000 students enrolled as well as its proximity to major regional thoroughfares such as Highway 460 and Interstate 81. Additionally, this retail trade area serves as the dominant shopping center destination for a 25+ mile radius as it is the largest retail trade cohort outside of Roanoke, VA. This is a rare opportunity to acquire an exceptionally well located, 100% occupied retail asset on a large 1.82 acre lot, with fixed rental increases, near one of the most recognized and well attended university’s in the U.S.

FOR SALE DETAILS

PRICE

$4,250,000 USD

PRICE/SF

$33 USD /SF

CAP RATE

6%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Fully Occupied Shops to Target- NNN Leases

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Storefront, Supermarket

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2000

SPRINKLERS

-

PARKING SPACES

2275

LAND DETAILS

LAND ACRES

13.88 AC

LAND SF

604,526 SF

ZONING

B-3

APN/PARCEL ID

035290

ASK ABOUT THIS PROPERTY

Eric CarltonColliersMore Info
949-903-3399

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Eric CarltonColliersMore Info
949-903-3399

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.