1340 Main StDanville, VA 24541

Property Details for 1340 Main St

Year built

1980

Construction

CONCRETE BLOCKS

Lot size

4.87 AC

Property size (Sq ft)

54,081 SF

Zone code

PLANNED SHOPPING CENTER

Property type

Retail properties

Property subtype

Super regional malls

APN

58503

APU

58503

Description

Dan River Plaza, located at 1340 W Main St, Danville, VA 24541, presents a significant retail investment opportunity. This single-story, 54,605 square foot shopping center, built in 1980, offers multiple tenancy options with a minimum divisible space of 10,000 square feet and a maximum contiguous space of 36,585 square feet. Currently, 60,151 square feet is vacant, providing ample space for expansion or new tenants. The property sits on a 5.41-acre lot and is classified as Class C. It boasts excellent visibility and accessibility from W. Main Street, benefiting from its location directly across Bishop Road from the new Caesars Palace development. This $400 million resort, slated to open December 2024, will bring significant economic growth to the area, including 1,300 jobs and a large entertainment venue. The center is anchored by Family Dollar and adjacent to Hardee's, ensuring strong existing traffic. An outparcel is also available. The property's proximity to Schoolfield Elementary, Ballou Park, Sovah Health Center, and Danville Community College further enhances its appeal. This is a rare chance to capitalize on the immense growth potential spurred by the Caesars Danville development in a well-established commercial area.

• CAP approach

  CAP return

  Valuation

  6%

  $11,883,165

  6.5%

  $10,969,075

  7%

  $10,185,570

• Comparable approach

  Method

  Valuation

  Relative Method

  $31,282,656

  Geo Method

  $31,282,656

• Alternative Use

  Use

  Valuation

  Residential

  $9,252,825

  Hospitality

  $8,475,538

  Educational

  $7,051,548

  Medical

  $7,294,062

  Retail

  $10,969,075

Location Insight

City

Danville

County

Danville City

State

Virginia

Latitude

36.5678

Longitude

-79.4338

CBSA code

19260

CBSA name

DANVILLE, VA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at support@realmo.com and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at support@realmo.com.