Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2420 Virginia Ave Collinsville, VA 24078

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Prime Collinsville Office & Retail, 3 Spaces Available

    Lot size:
    70,000 SF

    Property Features for 2420 Virginia Ave

    General Information

    Property type
    Lifestyle centers
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    70,000 SF
    Class
    B
    Total Rate
    46666.67

    Building Details

    Buildings
    1
    Stories
    1

    Spaces For Lease

    at 2420 Virginia Ave, Collinsville, VA 24078 Contact us
    Unit Suite 3

    $10 /Mo

    Size
    9,000 SF
    Contact us
    Unit Suite 7

    $8 /Mo

    Size
    3,000 SF
    Contact us
    Unit Suite 6

    $10 /Mo

    Size
    2,000 SF
    Contact us

    We can help!

    Listing Contact
    Will Vaughn
    Will Vaughn

    Listing Agency: J & R Management Listing Agent: Will Vaughn

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Dutch Inn Plaza, located at 2420 Virginia Ave, Collinsville, VA 24078, presents a compelling investment opportunity. This single-story, Class B commercial property boasts a total of 70,000 square feet, situated on a 6.9-acre lot. Currently, there are three available spaces ranging from 2,000 to 9,000 square feet, representing 14,000 square feet of vacant space within the seven total suites. The property is zoned B1 and served by Appalachian Power. Elevators are not available. The building's prime location on US 220 (Virginia Avenue) ensures high visibility and accessibility, benefiting from an average annual daily traffic count of 23,000 vehicles. This makes it an ideal location for businesses seeking high traffic exposure. The property is classified as Retail, Office, with subtypes including Executive Office, Strip Center, and Shopping Center, offering flexibility for a variety of tenants. The minimum divisible space is 2,000 square feet. This property offers a unique blend of retail and office space in a high-traffic area, making it an attractive option for businesses seeking a prominent location in Collinsville, Virginia.
    Property Profile Location Intelligence

    Current Use by Public Records

    Suit City Clothing & Fashion Store

    Suggested Use

    Restaurant Real Estate Agency Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop Gym & Fitness Center Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Collinsville
    County
    Henry
    State
    Virginia
    Longitude
    -79.907868258026
    Latitude
    36.712591795746

    Nearby Similar for Lease

    • Contact for pricing
      4,480 SF

      Collinsville, VA Office/Retail Space

      4,480 SF Single-Tenant Building, High Visibility
      3344 Virginia Ave, Collinsville, VA 24078
      View Details
    • Contact for pricing
      12,600 SF

      Collinsville Retail/Warehouse Opportunity

      12,600 SF Flex Space, 0.9 Acres
      3200 Virginia Ave, Collinsville, VA 24078
      View Details
    • Contact for pricing
      50,000 SF

      Collinsville, VA Call Center

      50,000 SF Plug & Play Office Space
      2000 Virginia Ave, Collinsville, VA 24078
      View Details
    • Contact for pricing
      87,370 SF

      Collinsville Retail Center Investment

      87,370 SF Retail/Office Opportunity in VA
      2706 Virginia Ave, Collinsville, VA 24078
      View Details

    FAQs

    What type of property is this?
    Lifestyle center - Prime Collinsville Office & Retail, 3 Spaces Available
    Where is this lifestyle center located?
    The property is located at 2420 Virginia Ave Collinsville, VA.
    What is the lease rate?
    The lease rate is $8-$10 SF/Yr.
    What are key features of this property?
    This property features: High-traffic intersection with 23,000 AADT.; Strong tenant roster including AutoZone, Dollar General, Rent-A-Center, Domino's, T-Mobile, and others.; Adjacent to a 148-room Quality Inn hotel.
    (276) 632-5325 Call to check price and availability
    Request Owner's contact information
    2420 Virginia Ave Collinsville, VA 24078
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2420 Virginia Ave
    Collinsville, VA 24078
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    2420 Virginia Ave Collinsville, VA 24078
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Will Vaughn
    Will Vaughn
    Real Estate License ID: 0225233601
    (276) 632-5325
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!