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    1340 Main St Danville, VA 24541

    Sponsored
    For Lease
    $7 SF/Yr

    Prime Danville retail, high visibility.

    Lot size:
    54,605 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    Dan River Plaza, located at 1340 W Main St, Danville, VA 24541, presents a significant retail investment opportunity. This single-story, 54,605 square foot shopping center, built in 1980, offers multiple tenancy options with a minimum divisible space of 10,000 square feet and a maximum contiguous space of 36,585 square feet. Currently, 60,151 square feet is vacant, providing ample space for expansion or new tenants. The property sits on a 5.41-acre lot and is classified as Class C. It boasts excellent visibility and accessibility from W. Main Street, benefiting from its location directly across Bishop Road from the new Caesars Palace development. This $400 million resort, slated to open December 2024, will bring significant economic growth to the area, including 1,300 jobs and a large entertainment venue. The center is anchored by Family Dollar and adjacent to Hardee's, ensuring strong existing traffic. An outparcel is also available. The property's proximity to Schoolfield Elementary, Ballou Park, Sovah Health Center, and Danville Community College further enhances its appeal. This is a rare chance to capitalize on the immense growth potential spurred by the Caesars Danville development in a well-established commercial area.

    Property Features for 1340 Main St

    General Information

    Property type
    Individual retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    54,605 SF
    Class
    C
    Total Rate
    31852.92

    Building Details

    Year Built
    1980
    Stories
    1

    Unit(s) available at that property

    Space
    Out Pad
    Size
    23,566 SF
    Space
    Suite 1
    Size
    36,585 SF
    Rate per SF
    $10

    HighLights

    • Prime location directly across from the new Caesars Entertainment resort (opening December 2024), a $750 million development creating 1,300 jobs.
    • Anchored by Family Dollar and adjacent to Hardee's.
    • 5.41‑acre site with an available outparcel.
    • 36,000 SF anchor space available (former Kroger).
    • Excellent visibility and accessibility from W. Main Street.
    • Proximity to Schoolfield Elementary, Ballou Park, Sovah Health Center, and Danville Community College.
    Property Profile Location Intelligence

    Current Use by Public Records

    Dan River Plaza ... Business Center Stateline Diner Diner

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Danville
    County
    Danville City
    State
    Virginia
    Longitude
    -79.43353723
    Latitude
    36.56699597

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    FAQs

    What type of property is this?
    Individual retail property - Prime Danville retail, high visibility.
    Where is this individual retail property located?
    The property is located at 1340 Main St Danville, VA.
    What is the lease rate?
    The lease rate is $0.00-$10 SF/Yr.
    What are key features of this property?
    This property features: Prime location directly across from the new Caesars Entertainment resort (opening December 2024), a $750 million development creating 1,300 jobs.; Anchored by Family Dollar and adjacent to Hardee's.; 5.41-acre site with an available outparcel.
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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
    1340 Main St Danville, VA 24541
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