OFFERING SUMMARY
Price: $1,489,496
CAP Rate: 13.0%
Suites: 8
Lease Type: Double Net
Gross Leasable Area: 21,200 SF
Year Built: 2007
OFFERING HIGHLIGHTS
- Value-Add Shopping Center
- Available Pad Site for Development
- Recently Extended Leases by Multiple Tenants
- Includes Fully-Functioning Car Wash
INVESTMENT OVERVIEW
The Diffie Retail Team of Marcus & Millichap is pleased to present this multi-tenant retail center in Altavista, Virginia. The subject property sits on 5.2 acres of land and is currently 91.5% leased. The property itself consists of a 21,000-plus square foot shopping center and includes a fully functioning car wash which requires minimal management to operate. There is immediate upside potential in leasing the vacancy in the shopping center, and future upside in developing the additional 1.18 acres of land available as outparcels to the center. Multiple tenants have recently extended their leases and have been established in the center for several years.
