Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1340 Main St Danville, VA 24541-4714

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1340 Main St Danville, VA 24541-4714

    View on Map
    • Super regional malls
    • 54,081 SF
    • 4.87 lot acres
    Off-Market
    Property ID
    US87-1457284
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $855,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Dan River Plaza Shopping Center / Business Service Center / Corporate Office
    • Stateline Diner / Restaurant

    Property Details for 1340 Main St

    Year built
    1980
    Construction
    CONCRETE BLOCKS
    Lot size
    4.87 lot acres
    Property size
    54,081 SF
    Zone code
    PLANNED SHOPPING CENTER
    Property type
    Super regional malls
    Property subtype
    Shopping centers
    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.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $850,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $857,000
      Market price range: $858k - $2.43M

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Danville
    County
    Danville City
    State
    Virginia
    Longitude
    -79.4338
    Latitude
    36.5678
    CBSA code
    19260
    CBSA name
    DANVILLE, VA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2021
    $5,655
    $265,200
    $434,000
    $699,200
    -
    $265,200
    $434,000
    $699,200

    Comparable in this City

    • Value Estimation by Request
      12,528 SF

      418 Trade St

      REGIONAL SHOPPING CENTER, MALL • 12,528 SF
      418 Trade St, Danville, VA 24541-3549
      View Details
    • Value Estimation by Request
      2,439 SF

      2000 Westover Dr

      REGIONAL SHOPPING CENTER, MALL • 2,439 SF
      2000 Westover Dr, Danville, VA 24541-5069
      View Details
    • Value Estimation
      $2,505,000
      192,978 SF

      603 Main St

      REGIONAL SHOPPING CENTER, MALL • 192,978 SF
      603 Main St, Danville, VA 24541-4201
      View Details
    • Value Estimation
      $1,955,000
      168,934 SF

      3230 Riverside Dr

      REGIONAL SHOPPING CENTER, MALL • 168,934 SF
      3230 Riverside Dr, Danville, VA 24541
      View Details
    • Value Estimation
      $655,000
      23,303 SF

      4960 Riverside Dr

      REGIONAL SHOPPING CENTER, MALL • 23,303 SF
      4960 Riverside Dr, Danville, VA 24541-5630
      View Details
    • Value Estimation by Request
      4,000 SF

      111 Sandy Ct

      REGIONAL SHOPPING CENTER, MALL • 4,000 SF
      111 Sandy Ct, Danville, VA 24541-4174
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      6,262 SF

      Danville Retail Showroom For Sale

      6,262 SF retail showroom for redevelopment on 0.5 acres.
      310 Old Riverside Dr, Danville, VA 24541
      View Details
    • Contact for pricing

      Restaurant Property on Highway 58

      Restaurant property with ample parking and FF&E included.
      3585 Riverside Dr, Danville, VA 24541
      View Details
    • $349,000
      31.63 Acres

      Danville Land with Riverfront Access

      Undeveloped 31+ acre land parcel with river frontage.
      00 Hanks Ln, Danville, VA 24541
      View Details
    • Contact for pricing

      Cleared Commercial Land for Development

      12.98 acres of commercial land ready for development.
      Franklin Turnpike/Route 41, Danville, VA 24541
      View Details
    • Contact for pricing

      High Visibility Retail Land Available

      Up to 6.2 acres available in high visibility retail area.
      Sandy Ct, Danville, VA 24541
      View Details
    • $49,900
      0.92 Acres

      Residential Land in Upscale Danville

      Prime lots in Danville, near restaurants and shopping centers.
      Westhaven Dr, Danville, VA 24541
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      11,540 SF

      Danville Shopping Center Retail Space

      Retail space in a 235,000 SF shopping center.
      607-661 W Main St, Danville, VA 24541
      View Details
    • Contact for pricing
      3,800 SF

      Danville Shopping Center Retail Space

      Retail space available in a 235,000 SF shopping center.
      114 Wooding Ave, Danville, VA 24541
      View Details
    • Contact for pricing
      21,631 SF

      Danville Shopping Center Retail Space

      Retail space in a 235,000 SF shopping center.
      663-679 W Main St, Danville, VA 24541
      View Details
    • Contact for pricing
      2,100 SF

      Retail Space Near Averett University

      2,100 SF retail space in a 235,000 SF center.
      605 W Main St, Danville, VA 24541
      View Details
    • Contact for pricing

      Riverside Drive Retail Space

      Retail spaces available for lease on Riverside Drive.
      3230-3360 Riverside Dr, Danville, VA 24541
      View Details
    • $6 SF/Yr

      Warehouse/Showroom Space For Lease/Sale

      15,000 SF warehouse/showroom available for lease or sale.
      778 Westover Dr, Danville, VA 24541
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1340 Main St
    Danville, VA 24541-4714
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!