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Property profile & analytics
OFF-MARKET
Retail properties & Spaces

251 Washington Hwy Ashland, VA 23005

24,529 SF
Property ID
Property summary
AI-generated overview

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.

Property profile
Verified
Property type Retail properties & Spaces
Total area 24,529 SF
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Buddy’s Home Furnishings Furniture & Home Goods Home Decor Store
  • Ashland Hanover Shopping Center Shopping Center & Mall
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
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Comparable Approach Comparable
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Blend (final) Blend
by Request
Owner & transaction history
Owner on record
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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