181 Plaza Rd Wise, VA 24293
- Retail properties
- 34,622 SF
- 3.07 lot acres
Current Use by Public Records
- Tractor Supply Co. / Animal Feed Store / Farm Shop
Property Details for 181 Plaza Rd
- Year built
- 1974
- Lot size
- 3.07 lot acres
- Property size
- 34,622 SF
- Property type
- Retail properties
- Property subtype
- Retail space
Description
This exceptional retail investment opportunity features a 34,622 square foot Tractor Supply store in Wise, Virginia. Built in 1974 and extensively renovated in 2021, including a new roof with warranty extending to 2036, the property boasts a 100% occupancy rate with a strong, investment-grade corporate tenant (S&P: BBB, Moody's: Baa1) under a Net Net + Lease agreement extending to 2036. The property sits on a 3.07-acre lot in a prime retail corridor with high daily traffic counts (21,442 vehicles per day) and excellent visibility from Highway 23. Adjacent to a large retail center anchored by Ashley Furniture and Big Lots, and near other national retailers including Walmart, Lowe's, Food City, Ollie's, and Harbor Freight, this location offers exceptional visibility and accessibility. The property generates a substantial net operating income (NOI) of $163,109, representing a 7.00% cap rate, and an asking price of $2,330,000 ($67.30/sq ft). An assumable loan is in place, making this a compelling investment opportunity with significant upside potential. Recent upgrades include LED parking lot lighting. Tractor Supply has occupied the property since 2007, demonstrating long-term commitment to the location and its expansion in 2021 further solidifies this commitment.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Wise
- County
- Wise
- State
- Virginia
- Longitude
- -82.5965
- Latitude
- 36.9725
