2911 Hershberger Rd Roanoke, VA 24017
Call to check price and availability
117,726 SF Value-Add Opportunity
Property size:
117,726 SFProperty Features for 2911 Hershberger Rd
General Information
- Property type
- Lifestyle centers
- Square Feet
- 117,726 SF
- Lot Size
- 478,768 SF
Building Details
- Year Built
- 1976
Listing Agency: CBRE Philadelphia Suburban Listing Agent: Matthew Gorman
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
This 117,726-square-foot shopping center in Roanoke, VA, presents a significant value-add opportunity. Located at 2911 Hershberger Rd NW, Roanoke, VA 24017, the property boasts a prominent location within a major retail corridor, directly adjacent to national retailers like Home Depot and Dollar Tree. Currently 75% vacant, the center offers substantial potential for increased net operating income (NOI) through leasing the existing vacant space (88,000 SF), redevelopment, or the addition of pad tenants. A significant anchor tenant, Big Lots, occupies 29,726 square feet under a corporately guaranteed net lease with six years remaining. Big Lots, a publicly traded company (NYSE: BIG), has a strong national presence. The property sits on 10.991 acres and was built in 1976. Its strategic location offers exceptional regional access via I-581 and Hershberger Road (combined traffic counts exceeding 84,000 vehicles per day), proximity to I-81 (over 70,000 VPD), and is within a logistics hub near the Roanoke-Blacksburg Regional Airport. The surrounding area features a dense population (over 141,000 residents within a 5-mile radius) with projected growth, and is near major employers including Kroger, Walmart, and Roanoke County Schools. The asking price is $8,250,000 ($70.08/SF). The land value is $70.07/SF. This fee-simple property offers a compelling investment prospect for those seeking substantial upside potential in a thriving retail market.
Property Profile
Location Intelligence
Current Use by Public Records
Big Lots
Furniture & Home Goods
Location Insight
- Map
- Local Demand
- City
- Roanoke
- County
- Roanoke
- State
- Virginia
- Longitude
- -79.9805522
- Latitude
- 37.3074655
Nearby Similar for Sale
FAQs
What type of property is this?
Lifestyle center - 117,726 SF Value-Add Opportunity
Where is this lifestyle center located?
The property is located at 2911 Hershberger Rd Roanoke, VA.
What is the asking price?
The asking price for this property is $8,250,000.
What are key features of this property?
This property features: Major Value-Add Opportunity: 117,726 SF building, 75% vacant, offering significant NOI growth potential through leasing, redevelopment, or pad site development.; Established National Tenant: Big Lots (NYSE: BIG) occupies 29,726 SF under a six-year, corporately guaranteed NNN lease.; Prominent Retail Corridor: Located in a dense retail area with adjacent national retailers and proximity to a major retail corridor along I-581, including Walmart, Target, and others.
