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    4916 Plank Rd North Garden, VA 22959

    For Sale
    $4,999,900

    Retail Center, High Occupancy, 8% Cap Rate

    Property size:
    22,055 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    362
    This exceptional retail investment opportunity presents Crossroads Corner Shops, a two-story, 22,055 square foot Class B storefront property located at 4916 Plank Rd, North Garden, VA 22959. Built in 2007, this landmark location boasts a prime position just 10 minutes south of Charlottesville, with excellent road frontage on Route 29, ensuring high visibility and accessibility. The property currently features 16 units, with 87% occupancy, anchored by strong, long-term tenants including Old Dominion National Bank, Crossroads Store, Dr. Ho's Humble Pie, and UVA Crossroads Family Medicine. A new Taphouse Restaurant is slated to open in November 2024, further enhancing the property's appeal and income potential. Twelve of the sixteen spaces are currently occupied, with seven suites available. Two spaces remain unbuilt, offering build-to-suit opportunities for potential tenants. The property benefits from tenants paying CAM charges and attractive annual rent increases, contributing to a robust 8% capitalization rate. The asking price is $4,999,900. This is a rare chance to acquire a well-established, high-performing retail center in a thriving location. The property is zoned for commercial use.

    Property Features for 4916 Plank Rd

    General Information

    Property type
    Individual retail properties
    Square Feet
    22,055 SF
    Class
    B

    Building Details

    Year Built
    2007
    Buildings
    1
    Stories
    2
    Units
    16

    HighLights

    • Anchored by strong, long‑term tenants including Old Dominion National Bank, Crossroads Store, Dr. Ho's Humble Pie, and UVA Crossroads Family Medicine.
    • 12 of 16 spaces currently occupied, with 7 available suites.
    • Two spaces remain unbuilt, offering build‑to‑suit opportunities.
    • Tenants pay CAM charges.
    • Attractive annual rent increases resulting in an 8% capitalization rate.
    • Prime location in North Garden, VA, just 10 minutes south of Charlottesville, with excellent road frontage on Route 29.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Restaurant Kitchen & Bath Food Market Storage Facility Electrical Service Car Rental Wine and Liquor Store Bed & Breakfast Italian Restaurant Assisted Living Facility

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    North Garden
    County
    Albemarle
    State
    Virginia
    Longitude
    -78.6577362
    Latitude
    37.9568114

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    FAQs

    What type of property is this?
    Individual retail property - Retail Center, High Occupancy, 8% Cap Rate
    Where is this individual retail property located?
    The property is located at 4916 Plank Rd North Garden, VA.
    What is the asking price?
    The asking price for this property is $4,999,900.
    What are key features of this property?
    This property features: Anchored by strong, long-term tenants including Old Dominion National Bank, Crossroads Store, Dr. Ho's Humble Pie, and UVA Crossroads Family Medicine.; 12 of 16 spaces currently occupied, with 7 available suites.; Two spaces remain unbuilt, offering build-to-suit opportunities.
    Request Owner's contact information
    4916 Plank Rd North Garden, VA 22959
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    North Garden, VA 22959
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    4916 Plank Rd North Garden, VA 22959
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