Single-Tenant Bank
9665 SLIDING HILL RD, Ashland, VA 23005
For Sale
Contact for pricing
Long-term NNN occupancy includes corporate lease support and no landlord responsibilities.
Property Size8,560 SF
Price / SF$407.78
Days on Market98
Property Features for 9665 SLIDING HILL RD
General Information
Standard status
Size
Property subtype
Occupancy
Lease Type
Investment Type
Net Operating Income
Site & Location
Highway Access
Road Access
Building Details
Year Built
Buildings
Units
Tenancy
Listing Agency:
The Boulder Group
Listed By:
Jimmy Goodman · License IL #471007006
(847) 562-8500
Source:
Crexi
Added: Aug 5
Changed: Nov 8
Last Checked: Nov 10 at 5:52AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of The Boulder Group
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1998, the 8,560-square-foot property operates as a single-tenant Atlantic Union Bank branch. The current NNN lease runs through September 2040 and includes approximately 14 years of remaining primary term, 1.50% annual rent increases, and two 5-year renewal options with 2.00% annual increases. The lease provides zero landlord responsibilities and is supported by a corporate guarantee from Atlantic Union Bankshares Corporation. Atlantic Union Bank carries a KBRA: A- investment grade credit rating.
The building sits at 9665 Sliding Hill Road at the I-95 Exit 86 interchange in Ashland, Virginia, with direct freeway access. Walmart Neighborhood Market is across the street, and Sheetz and Wawa serve the nearby intersection. The same corridor includes the Wegmans Food Markets Virginia Service Center, a 1 million-square-foot distribution facility employing over 500 workers. Richmond International Airport is approximately 20 miles away, while the surrounding five-mile area includes approximately 76,000 residents with average household income of approximately $150,000.
The building sits at 9665 Sliding Hill Road at the I-95 Exit 86 interchange in Ashland, Virginia, with direct freeway access. Walmart Neighborhood Market is across the street, and Sheetz and Wawa serve the nearby intersection. The same corridor includes the Wegmans Food Markets Virginia Service Center, a 1 million-square-foot distribution facility employing over 500 workers. Richmond International Airport is approximately 20 miles away, while the surrounding five-mile area includes approximately 76,000 residents with average household income of approximately $150,000.
Key Highlights
- 8,560‑square‑foot bank building constructed in 1998
- NNN lease through September 2040 with approximately 14 years remaining
- 1.50% annual rent escalations during the primary lease term
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$110,591
Cap Rate
3.17%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,211,820
$2.2M
Cap Rate 7%
$1,579,871
$1.6M
Cap Rate 9%
$1,228,789
$1.2M
Market Conditions
NOI Build-Up for 8,560 SF
Gross rent
$154.1K $18.00/SF
− Vacancy
−$6.6K −$0.77/SF
EGI
$147.5K $17.23/SF
− OpEx
−$36.9K −$4.31/SF
NOI
$110.6K $12.92/SF
Area
Hanover County, VA
Vacancy
4.30%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,211,820
Cap Rate 7%
$1,579,871
Cap Rate 9%
$1,228,789
Alternative Uses
Best Use
Specialty Retail
$1.58M
$1.38M – $1.84M
NOI $110,591 @ 7.0% cap · market cap 3.17%
Second Best
Retail
$1.26M
$1.10M – $1.47M
NOI $88,082 @ 7.0% cap · market cap 2.52%
Theoretical Best
Office A
$2.58M
$2.26M – $3.01M
NOI $180,421 @ 7.0% cap · market cap 5.17%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
692
Businesses Nearby
141k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 46%
Groceries 37%
Dining 17%
Sheetz
Shops & Services
47,959 visits/mo
0.4 miles
Walmart Neighborhood Market
Groceries
29,221 visits/mo
0.3 miles
Food Lion Grocery Store
Groceries
22,527 visits/mo
0.2 miles
McDonald's
Dining
22,285 visits/mo
0.3 miles
Valero Energy
Shops & Services
9,702 visits/mo
0.4 miles
Demographics for 23005, VA
17,818
Population
7,639
Households
2.3
Avg Household Size
41
Median Age
41%
College-Educated
93%
High-School Grad
69.3 sq mi
ZIP Area
257
Density / Sq Mi
$90,049
Median Household Income
$43,623
Median Earnings
$1,236
Median Rent
$376,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Bank - Long-term NNN occupancy includes corporate lease support and no landlord responsibilities.
Where is this bank located?
The property is located at 9665 SLIDING HILL RD Ashland, VA.
What is the asking price?
The asking price for this property is $3,490,618.
What are key features of this property?
This property features: 8,560‑square‑foot bank building constructed in 1998; NNN lease through September 2040 with approximately 14 years remaining; 1.50% annual rent escalations during the primary lease term
