Current Use by Public Records
- Lifestyle centers
Property Details for 1202 Anchorage Cir
- Year built
- 1970
- Lot size
- 5.80 lot acres
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This exceptional investment opportunity presents a 5-building, 81,440 square foot shopping center situated on a 5.8-acre lot in Vansant, Virginia (zip code 24656). Currently boasting 80% occupancy with 15 tenants, including Dollar General, this Class B property offers a compelling 6.33% cap rate and a substantial net operating income (NOI) of $158,256. The property features 350 parking spaces and is zoned for commercial use. Constructed in 1970, the buildings are primarily metal structures with metal roofs, requiring minimal maintenance. One large, 24,000 square foot freestanding building is currently vacant, presenting significant upside potential for additional income through lease or repurposing (e.g., climate-controlled self-storage). The existing tenants enjoy long-term leases, contributing to the property's stable financial performance. The property's location in Buchanan County, an area with limited retail options, ensures continued demand and strong tenant retention. The ample parking provides room for future expansion or development. This stabilized investment offers a rare chance to acquire a well-maintained, high-performing retail center in a desirable market. The asking price is $2,500,000.
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
- Vansant
- County
- Buchanan
- State
- Virginia
- Longitude
- -82.0719
- Latitude
- 37.239
