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    4682 Us-29 Blairs, VA 24527

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    4682 Us-29 Blairs, VA 24527

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    • Retail properties & Spaces
    • 10,640 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 4682 Us-29

    Year built
    2024
    Property size
    10,640 SF
    Property type
    Retail properties & Spaces
    Property subtype
    Retail space

    Description

    This exceptional investment opportunity presents a brand-new, 10,640-square-foot Dollar General store in Blairs, Virginia. Built in 2024, the property boasts a 14.8-year remaining lease term (expiring August 31, 2039) with a corporate guarantee and an absolute NNN lease structure. The lease features attractive 5% rent increases every five years, ensuring consistent income growth. Located at 4682 US-29, the property benefits from a high-traffic location with 12,000 ADT, serving a 5-mile population exceeding 24,000. The property sits on a +/- 3.15-acre parcel at the corner of US-29 and Learner Lane, providing excellent visibility and accessibility. The asking price is $1,991,611, representing a 6.70% cap rate and a strong NOI of $133,437. The lease includes five 5-year renewal options, each with a 5% rent increase. This is a rare opportunity to acquire a newly constructed, high-performing retail asset in a growing market with significant upside potential. The property is conveniently located within Pittsylvania County, seven miles from Danville, 54 miles from Greensboro, NC, and 65 miles from Durham, NC. The Danville MSA boasts a population exceeding 106,000, offering a substantial and established customer base.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Blairs
    County
    Pittsylvania
    State
    Virginia
    Longitude
    -79.3737
    Latitude
    36.6751

    Comparable in this City

    • Value Estimation
      $910,000
      9,100 SF

      9320 U S Hwy 29

      RETAIL STORES (PERSONAL SERVICES) • 9,100 SF
      9320 U S Hwy 29, Blairs, VA 24527-2812
      View Details
    • Value Estimation by Request
      2,270 SF

      4972 U S Hwy 29

      RETAIL STORES (PERSONAL SERVICES) • 2,270 SF
      4972 U S Hwy 29, Blairs, VA 24527-2345
      View Details
    • Value Estimation by Request
      2,836 SF

      400 Railroad Ln

      RETAIL STORES (PERSONAL SERVICES) • 2,836 SF
      400 Railroad Ln, Blairs, VA 24527
      View Details
    • Value Estimation by Request
      1,224 SF

      4333 U S Hwy 29

      RETAIL STORES (PERSONAL SERVICES) • 1,224 SF
      4333 U S Hwy 29, Blairs, VA 24527-2320
      View Details
    • Value Estimation by Request
      1,475 SF

      Blairs, VA 24527

      RETAIL STORES (PERSONAL SERVICES) • 1,475 SF
      Blairs, VA 24527
      View Details
    • Value Estimation by Request
      2,560 SF

      9196 Spg Gdn Rd

      RETAIL STORES (PERSONAL SERVICES) • 2,560 SF
      9196 Spg Gdn Rd, Blairs, VA 24527
      View Details

    Similar Nearby for Sale

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    • $349,900
      4.66 Acres

      4.66 Acres Commercial Land

      Commercial land suitable for multiple uses in a fantastic location.
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    Blairs, VA 24527
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    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
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    4682 Us-29, Blairs, VA, 24527

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