Multi-Tenant Retail Strip
For Sale
$1,630,856
158 New Market Rd, Timberville, VA 22853
Built in 2017, the property is fully occupied by Verizon and Virginia ABC.
Property Size4,000 SF
Price / SF$407.71
Days on Market195
Property Features for 158 New Market Rd
General Information
Standard status
Active
Size
4,000 SF
Property subtype
Shopping Strip
Occupancy
100%
Additional Details
Cap Rate
6.5%
Amenities
Multi-Tenant Walmart Shadow | 4,000 SF Outparcel | 2017 Construction
Two (2) Tenants | 100% Occupied | Virginia ABC Store | Verizon
NNN Leases | TICAM Reimbursements | Minimal Landlord Obligations
Passive Investment | WALT: 6.26 Years | Annual Rent Increases | Both Tenants
Nearby New Developments: Walmart Fuel Station & Roxbury Subdivision (84-Units)
Verizon Recently Exercised 10 Years
Shenandoah Valley | 381,700+ Population | Tourism: 1.7 Million Visitors Annually
Harrisonburg, VA MSA | Rockingham County, VA | #1 Agricultural County in State
Building Details
Building Size
4,000 SF
Year Built
2017
Tenancy
Multi
Listing Agency:
Marcus & Millichap - Richmond
Listed By:
Harrison Jones · License #License(s): VA: 0225265219
(804) 802-6882
Source:
Marcusmillichap
Added: Apr 3
Changed: Oct 8
Last Checked: Oct 14 at 7:34PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Marcus & Millichap - Richmond
Investment Insights
Based on property information with market context.
This 4,000-square-foot retail strip center contains multiple tenant spaces and was completed in 2017. The property is 100% occupied by Verizon and Virginia ABC, providing an established tenant roster within the existing improvements.
Positioned at 158 New Market Rd in Timberville, Virginia, the center is identified as a Walmart-shadow retail property. The offering also reflects a 6.50% cap rate for investors evaluating the asset’s current occupancy and tenancy.
Positioned at 158 New Market Rd in Timberville, Virginia, the center is identified as a Walmart-shadow retail property. The offering also reflects a 6.50% cap rate for investors evaluating the asset’s current occupancy and tenancy.
Key Highlights
- 4,000‑square‑foot retail strip center
- 100% occupied by Verizon and Virginia ABC
- Built in 2017
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$51,623
Cap Rate
3.17%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,032,460
$1.0M
Cap Rate 7%
$737,471
$737.5K
Cap Rate 9%
$573,589
$573.6K
Market Conditions
NOI Build-Up for 4,000 SF
Gross rent
$80.2K $20.04/SF
− Vacancy
−$6.4K −$1.60/SF
EGI
$73.7K $18.44/SF
− OpEx
−$22.1K −$5.53/SF
NOI
$51.6K $12.91/SF
Area
Rockingham County, VA
Vacancy
8.00%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,032,460
Cap Rate 7%
$737,471
Cap Rate 9%
$573,589
Alternative Uses
Best Use
Retail
$737.5K
$645.3K – $860.4K
NOI $51,623 @ 7.0% cap · market cap 3.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.21M
$1.05M – $1.41M
NOI $84,384 @ 7.0% cap · market cap 5.17%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
201
Businesses Nearby
95k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 44%
Shops & Services 24%
Groceries 21%
Dining 10%
Walmart
Superstores
41,280 visits/mo
0.2 miles
Food Lion Grocery Store
Groceries
15,818 visits/mo
0.3 miles
Hardee's
Dining
9,461 visits/mo
0.3 miles
Dollar Tree
Shops & Services
9,307 visits/mo
0.3 miles
Virginia ABC
Groceries
4,103 visits/mo
0.1 miles
Demographics for 22853, VA
4,608
Population
1,839
Households
2.5
Avg Household Size
42
Median Age
13%
College-Educated
83%
High-School Grad
39.0 sq mi
ZIP Area
118
Density / Sq Mi
$61,415
Median Household Income
$36,539
Median Earnings
$961
Median Rent
$207,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Strip mall - Built in 2017, the property is fully occupied by Verizon and Virginia ABC.
Where is this strip mall located?
The property is located at 158 New Market Rd Timberville, VA.
What is the asking price?
The asking price for this property is $1,630,856.
What are key features of this property?
This property features: 4,000‑square‑foot retail strip center; 100% occupied by Verizon and Virginia ABC; Built in 2017
