1525 Main St, Waynesboro, PA 17268

This 117,951-square-foot retail property, located at 1525 E Main St, Waynesboro, PA 17268, is a multi-tenant shopping center anchored by a brand-new (2024 lease) ALDI and Tractor Supply. The center boasts a 96.7% occupancy rate, with a dynamic tenant lineup including Dollar Tree, Rite Aid, and Hardee's/Carl's Jr. A significant portion of the center's income (47.84%) is derived from ALDI and Tractor Supply, which together occupy 44.44% of the gross leasable area (GLA). Tractor Supply recently signed a new 10-year lease extension. The property shows excellent leasing momentum, with 58,051 square feet signed or renewed in 2024. National and credit tenants comprise 94.94% of total revenue, providing income surety. A weighted average lease term (WALT) of 8.62 years further enhances the investment's stability. Significant value-add opportunities exist, including 3,874 square feet available for lease and approximately 75,435 square feet of tenancy currently paying below-market rent (50-70%). The property sits on a 15.47-acre lot and enjoys a prime location along Route 16 (17,714 vehicles per day), within Waynesboro's main retail corridor, offering limited competition. The property consists of nine units and underwent renovations in 2024.