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Property profile & analytics

1515 Longwood Ave Bedford, VA 24523

  • Lifestyle centers
  • 43,684 SF
  • 9.70 lot acres
OFF-MARKET
Value Estimation
Location Intelligence

Current Use by Public Records

  • Coinstar Kiosk | Bitcoin ATM / Atm / Currency Exchange Service
  • Food Lion / Grocery Store
  • Redbox / Movie Rental Kiosk / Dvd Store
  • Western Union / Money Transfer Service
  • UPS Access Point location / Shipping And Mailing Service / Mailing Service

Property Details for 1515 Longwood Ave

Year built
1985
Lot size
9.70 lot acres
Property size
43,684 SF
Property type
Lifestyle centers
Property subtype
Power centers

Description

This exceptional investment opportunity presents a 43,684 square foot, multi-tenant retail center in Bedford, VA, boasting a 6.50% cap rate and a strong NOI of $350,774. The property, situated on a 9.7-acre lot at 1515 Longwood Ave, zip code 24523, features a 95% occupancy rate anchored by credit-rated tenants CVS Pharmacy and Food Lion. Food Lion, occupying 72% of the gross leasable area (GLA), recently signed a 5-year lease extension, demonstrating long-term commitment. CVS has also maintained a presence for nearly 40 years. The property benefits from a recent roof replacement (December 2023) and a newly redone parking lot (December 2022). This necessity-based retail center is strategically located in Bedford County, serving as the primary grocery and drug store shopping center for a significant portion of the county. Its location near US Highway 460 and proximity to other national retailers creates strong tenant synergy and increased consumer traffic. The property's fee simple ownership (land and building) and multi-tenant, net lease structure offer a stable and recession-resistant investment opportunity. Built in 1985, this property presents a compelling combination of established tenancy, recent improvements, and a prime location in a thriving community. The investment type is Net Lease, Multi-Tenant, with a Fee Simple ownership structure.

Value Estimation

Powered by Realmo proprietary methodology Last update: July 3, 2025
  • CAP approach

  • Comparable approach

  • Alternative Use

Location Insight

  • Map
  • Local Demand
City
Bedford
County
Bedford
State
Virginia
Longitude
-79.5063
Latitude
37.3481
More about this property
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