2801 Greensboro Rd Martinsville, VA 24112
- Lifestyle centers
- 11,475 SF
- 2.06 lot acres
Current Use by Public Records
- Lifestyle centers
Property Details for 2801 Greensboro Rd
- Year built
- 2007
- Lot size
- 2.06 lot acres
- Property size
- 11,475 SF
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This 11,475 square foot Class A shopping center in Martinsville, VA, presents a compelling investment opportunity. Built in 2007 on a 2.06-acre lot, the property boasts 100% occupancy with four tenants: Aaron's Furniture (dark space), Virginia ABC, Blue Ridge Tobacco, and Mega Force Staffing. The property features 99 parking spaces and is situated on Greensboro Road (US-220 Business), a major thoroughfare with a high average annual daily traffic count of 12,000. The center benefits from a Net Lease (NNN) structure, with tenants responsible for their pro-rata share of real estate taxes, insurance, and common area maintenance. The current asking price is $1,699,000, representing a 7.81% capitalization rate based on a 2023 Net Operating Income (NOI) of $132,740. Lease terms vary, with expiration dates ranging from 2025 to 2029. The property is zoned I2 and enjoys a prime location near other established businesses including Food Lion, McDonald's, Rural King, and more. A new Starbucks is under construction across the street. This well-maintained asset offers a stable income stream with minimal landlord responsibilities and built-in rent bumps. The property is located in an Opportunity Zone. The single-story building provides easy access and ample parking for tenants and customers. Access is available from both Greensboro Road and Rives Road.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Martinsville
- County
- Henry
- State
- Virginia
- Longitude
- -79.8725
- Latitude
- 36.6526
