251 Washington Hwy Ashland, VA 23005
This exceptional retail opportunity presents 24,529 square feet of vacant space within the Ashland Hanover Shopping Center, a dominant center in a vibrant Hanover County submarket. Located in close proximity to I-95, this property benefits from high traffic counts, with 23,000 ADT on US 1 and VA 54E. The center boasts a diverse tenant mix, including national, regional, and local retailers, anchored by a high-performing Food Lion. Multiple spaces are available, offering flexibility for various retail concepts. Individual spaces range from a minimum of 2,000 square feet to a maximum contiguous space of 12,240 square feet. Specifically, there are four available spaces: 3,600 square feet, 2,000 square feet, 6,689 square feet, and 12,240 square feet. The property's strategic location near Randolph Macon College, with its approximately 1,500 students, provides a significant built-in customer base. This presents a unique chance to establish or expand a retail presence in a thriving community with excellent visibility and accessibility. The property is situated in Hanover County and offers a compelling investment opportunity for businesses seeking a high-traffic location within a well-established retail center. The entire 24,529 square feet is currently vacant, providing a blank canvas for a new tenant or a redevelopment opportunity.
-
Buddy’s Home Furnishings Furniture & Home Goods Home Decor Store
-
Ashland Hanover Shopping Center Shopping Center & Mall
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.