Current Use by Public Records
- Big Lots / Furniture & Home Goods / Home Decor Store
Property Details for 2911 Hershberger Rd
- Year built
- 1976
- Lot size
- 10.99 lot acres
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
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.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Roanoke
- County
- Roanoke
- State
- Virginia
- Longitude
- -79.9806
- Latitude
- 37.3075
