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    251 Washington Hwy Ashland, VA 23005

    For Lease
    Contact for pricing

    Hanover County, VA: Prime Retail Space Available

    Lot size:
    24,529 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    368
    This exceptional retail opportunity presents 24,529 square feet of vacant space within the Ashland Hanover Shopping Center, a dominant center in a vibrant Hanover County submarket. Located in close proximity to I-95, this property benefits from high traffic counts, with 23,000 ADT on US 1 and VA 54E. The center boasts a diverse tenant mix, including national, regional, and local retailers, anchored by a high-performing Food Lion. Multiple spaces are available, offering flexibility for various retail concepts. Individual spaces range from a minimum of 2,000 square feet to a maximum contiguous space of 12,240 square feet. Specifically, there are four available spaces: 3,600 square feet, 2,000 square feet, 6,689 square feet, and 12,240 square feet. The property's strategic location near Randolph Macon College, with its approximately 1,500 students, provides a significant built-in customer base. This presents a unique chance to establish or expand a retail presence in a thriving community with excellent visibility and accessibility. The property is situated in Hanover County and offers a compelling investment opportunity for businesses seeking a high-traffic location within a well-established retail center. The entire 24,529 square feet is currently vacant, providing a blank canvas for a new tenant or a redevelopment opportunity.

    Property Features for 251 Washington Hwy

    General Information

    Property type
    Retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    24,529 SF

    Unit(s) available at that property

    Space
    Suite 113
    Size
    6,689 SF
    Space
    Suite 251A
    Size
    12,240 SF
    Space
    Suite 209
    Size
    3,600 SF
    Space
    Suite 211
    Size
    2,000 SF

    HighLights

    • Retail property totaling 24,529 square feet available for lease in Hanover County.
    • Multiple suites available, ranging from 2,000 to 12,240 contiguous square feet.
    • Currently 100% vacant.
    • Dominant shopping center anchored by a high‑performing Food Lion, with a mix of national, regional, and local tenants.
    • High traffic counts: US 1 and VA 54E, each with 23,000 ADT.
    • Excellent location near I‑95 and Randolph Macon College.
    Property Profile Location Intelligence

    Current Use by Public Records

    Buddy’s Home Furnishings Furniture Store Ashland Hanover Shopping ... Shopping Mall

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Ashland
    County
    Hanover
    State
    Virginia
    Longitude
    -77.4694801
    Latitude
    37.7597807

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    FAQs

    What type of property is this?
    Retail property - Hanover County, VA: Prime Retail Space Available
    Where is this retail property located?
    The property is located at 251 Washington Hwy Ashland, VA.
    What are key features of this property?
    This property features: Retail property totaling 24,529 square feet available for lease in Hanover County.; Multiple suites available, ranging from 2,000 to 12,240 contiguous square feet.; Currently 100% vacant.
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    Ashland, VA 23005
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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
    251 Washington Hwy Ashland, VA 23005
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