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    240 Commonwealth Blvd Martinsville, VA 24112

    For Lease
    Contact for pricing

    Grocery-anchored power center, high traffic.

    Lot size:
    288,254 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    362
    The Village of Martinsville offers a unique investment opportunity in a thriving retail center. Strategically located at the intersection of Commonwealth Blvd. West and Liberty Street, this property enjoys exceptional visibility and accessibility along Martinsville's main commercial artery. Three signalized entrances ensure convenient access for customers. The center is anchored by a strong lineup of national retailers, including Kroger, Dunham's, Marshall's, Harbor Freight Tools, Belk, JoAnn Stores, and Maurices, creating a synergistic environment that drives significant foot traffic. This established center boasts a total of 288,254 square feet of retail space, currently featuring multiple tenants. One space is currently available, ranging in size from 1 square foot to 85,000 square feet, providing flexibility for various retail concepts. The high visit frequency of 10.05 demonstrates the center's consistent appeal to a loyal customer base, making it an attractive proposition for investors seeking a stable and high-performing retail asset. The property's prime location and strong tenant mix contribute to its robust performance and potential for future growth. This is an exceptional opportunity to acquire a stake in a well-established and successful retail center.

    Property Features for 240 Commonwealth Blvd

    General Information

    Property type
    Retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    288,254 SF

    Unit(s) available at that property

    Space
    CONTACT US FOR MORE INFORMATION
    Size
    85,000 SF

    HighLights

    • Retail property totaling 288,254 square feet.
    • Multiple tenancy retail center with one space available, ranging from 1 to 85,000 square feet.
    • Grocery‑anchored power/lifestyle center located at the intersection of Commonwealth Blvd. West and Liberty Street in Martinsville.
    • Excellent visibility and accessibility via three signalized entrances from Commonwealth Blvd., Martinsville's main commercial thoroughfare.
    • Strong tenant mix including national retailers such as Kroger, Dunham's, Marshall's, Harbor Freight Tools, Belk, JoAnn Stores, and Maurices.
    • High foot traffic with a visit frequency of 10.05.
    Property Profile Location Intelligence

    Current Use by Public Records

    Kroger Grocery Store Luxury Nails & Spa Nail Salon Harbor Freight Tools Hardware Store Marshalls Department Store US Marine Corps ... Military Recruiting Office

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Dental Office Spa & Massage 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
    Martinsville
    County
    Martinsville City
    State
    Virginia
    Longitude
    -79.8774584
    Latitude
    36.6983985

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    FAQs

    What type of property is this?
    Retail property - Grocery-anchored power center, high traffic.
    Where is this retail property located?
    The property is located at 240 Commonwealth Blvd Martinsville, VA.
    What are key features of this property?
    This property features: Retail property totaling 288,254 square feet.; Multiple tenancy retail center with one space available, ranging from 1 to 85,000 square feet.; Grocery-anchored power/lifestyle center located at the intersection of Commonwealth Blvd. West and Liberty Street in Martinsville.
    Request Owner's contact information
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    Martinsville, VA 24112
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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
    240 Commonwealth Blvd Martinsville, VA 24112
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