4916 Plank Rd North Garden, VA 22959
- Strip malls
- 22,055 SF
- 2.51 lot acres
Current Use by Public Records
- Strip malls
Property Details for 4916 Plank Rd
- Year built
- 2007
- Lot size
- 2.51 lot acres
- Property size
- 22,055 SF
- Zone code
- C1 COMMERCIAL
- Property type
- Strip malls
- Property subtype
- Neighborhood centers
- APN
- 09900-00-00-00500
- APU
- 9900000000500
Description
This exceptional retail investment opportunity presents Crossroads Corner Shops, a two-story, 22,055 square foot Class B storefront property located at 4916 Plank Rd, North Garden, VA 22959. Built in 2007, this landmark location boasts a prime position just 10 minutes south of Charlottesville, with excellent road frontage on Route 29, ensuring high visibility and accessibility. The property currently features 16 units, with 87% occupancy, anchored by strong, long-term tenants including Old Dominion National Bank, Crossroads Store, Dr. Ho's Humble Pie, and UVA Crossroads Family Medicine. A new Taphouse Restaurant is slated to open in November 2024, further enhancing the property's appeal and income potential. Twelve of the sixteen spaces are currently occupied, with seven suites available. Two spaces remain unbuilt, offering build-to-suit opportunities for potential tenants. The property benefits from tenants paying CAM charges and attractive annual rent increases, contributing to a robust 8% capitalization rate. The asking price is $4,999,900. This is a rare chance to acquire a well-established, high-performing retail center in a thriving location. The property is zoned for commercial use.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- North Garden
- County
- Albemarle
- State
- Virginia
- Longitude
- -78.6576
- Latitude
- 37.9567
- CBSA code
- 16820
- CBSA name
- CHARLOTTESVILLE, VA METROPOLITAN STATISTICAL AREA
