Ground-Leased Shopping Center with H
8805 Centreville Rd Manassas, VA 20110
For Sale
Contact for pricing
Unsubordinated ground-leased shopping center anchored by H Mart, with occupied small-shop space and a Giant Food fuel station.
Property Size67,022 SF
Lot Size9.26 Acres
Price / SF$178.30
Days on Market133
Property Features for 8805 Centreville Rd
General Information
- Standard status
- Active
- Size
- 67,022 SF
- Lot size
- 9.26 Acres
- Property subtype
- Retail
Building Details
- Year Built
- 1981
Listing Agency:
Marcus & Millichap - Washington, D.C.
(443) 553-6755
Listed By:
Dean Zang · License #MD 665335
Source:
Crexi
Added: Mar 13
Changed: Jul 23
Last Checked: Jul 23 at 2:15AM
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 - Washington, D.C.
Investment Insights
Based on property information with market context.
This unsubordinated ground-leased interest is offered underlying Manassas Junction Shopping Center, a 67,022-square-foot retail center on 9.26 acres. The property is anchored by H Mart, which occupies approximately 73% of the GLA, with the remaining space comprised of 100% occupied small-shop tenants. Small shops include Starbucks and several local chains, along with a Giant Food fuel station.
The center is adjacent to an 84,080-square-foot Home Depot, which generates 801,000 annual visits, and cross-access easements provide complementary traffic. The ground lease has approximately 11 years of total remaining term and no further renewal options; upon expiration, ownership of all existing improvements will revert to the fee owner.
Recent capital improvements include an LED retrofit and replacement of the H Mart roof in 2022, landscape renovation in 2022, mill & pave work from 2019 through 2022, façade painting in 2018, and replacement of all inline shop roofs in 2010. The site’s B4 zoning designation allows for General Commercial uses, including retail, office, service, and institutional uses.
The center is adjacent to an 84,080-square-foot Home Depot, which generates 801,000 annual visits, and cross-access easements provide complementary traffic. The ground lease has approximately 11 years of total remaining term and no further renewal options; upon expiration, ownership of all existing improvements will revert to the fee owner.
Recent capital improvements include an LED retrofit and replacement of the H Mart roof in 2022, landscape renovation in 2022, mill & pave work from 2019 through 2022, façade painting in 2018, and replacement of all inline shop roofs in 2010. The site’s B4 zoning designation allows for General Commercial uses, including retail, office, service, and institutional uses.
Key Highlights
- 67,022 SF shopping center on 9.26 acres, anchored by H Mart occupying 73% of GLA with 100% occupied small‑shop space.
- H Mart operated at the site since April 2015; former anchor tenant Giant Food occupied H Mart from 1981 to 2012.
- Ground lease has 11 years remaining and no further renewal options; improvements revert to the fee owner at lease expiration.
Financial Insights For Industrial
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $1.01M | $15.00 |
| − Vacancy | −$50.3k | −$0.75 |
| EGI | $955.1k | $14.25 |
| − OpEx | −$286.5k | −$4.27 |
| NOI | $668.5k | $9.98 |
67,022 SF · lease $15.00/SF/yr · vacancy 5.00% · expense 30.00%
Alternative Uses
Best Use
Specialty Retail
$37.23M
$32.57M – $43.43M
NOI $2,605,815 @ 7.0% cap · market cap 21.81%
Second Best
Retail
$32.03M
$28.03M – $37.37M
NOI $2,242,003 @ 7.0% cap · market cap 18.76%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Wingstop
Restaurant
Similar Off Market Nearby
- Manassas Shopping Center — 9018 Mathis Ave, Manassas, VA 20110
- Manassas Junction — 8819 Centreville Rd, Manassas, VA 20110
- Coinstar Kiosk | Bitcoin ATM — Food Lion, 9121 Centreville Rd, Manassas, VA 20110
FAQs
What type of property is this?
Shopping center - Unsubordinated ground-leased shopping center anchored by H Mart, with occupied small-shop space and a Giant Food fuel station.
Where is this shopping center located?
The property is located at 8805 Centreville Rd Manassas, VA.
What is the asking price?
The asking price for this property is $11,950,000.
What are key features of this property?
This property features: 67,022 SF shopping center on 9.26 acres, anchored by H Mart occupying 73% of GLA with 100% occupied small‑shop space.; H Mart operated at the site since April 2015; former anchor tenant Giant Food occupied H Mart from 1981 to 2012.; Ground lease has 11 years remaining and no further renewal options; improvements revert to the fee owner at lease expiration.
