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    4001 College Ave Bluefield, VA 24605

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    4001 College Ave Bluefield, VA 24605

    View on Map
    • Outlet malls
    • 227,041 SF
    • 28.58 lot acres
    For Lease
    $23,415,000
    View Listing →
    Retail Center Shadow Anchored For Lease
    $23,415,000

    Retail Center Shadow Anchored

    Retail spaces available in shadow-anchored shopping center.

    4001 College Ave, Bluefield, VA 24605
    View Listing
    Property ID
    US87-2117459
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Outlet malls

    Property Details for 4001 College Ave

    Year built
    2005
    Lot size
    28.58 lot acres
    Property size
    227,041 SF
    Property type
    Outlet malls
    Property subtype
    Shopping centers
    APN
    025 A 0049
    APU
    025A0049

    Description

    Ridgeview Plaza, located at 4001 College Ave, Bluefield, VA 24605, presents a prime retail investment opportunity. This 87,970 square foot shopping center, built in 2001, boasts a strong tenant lineup including a Walmart Supercenter shadow anchor. The center enjoys excellent visibility from Highway 460, a major east-west thoroughfare with over 14,000 vehicles daily. A signalized main entrance ensures easy access for customers. The property offers multiple tenancies, with a minimum divisible space of 1,498 square feet. Current tenants include Bealls, Dollar Tree, Med Express Urgent Care, Cato, Rent-A-Center, Verizon, GameStop, and Sally Beauty Supply. The ample parking provides a 5.45 spaces per 1,000 square feet ratio. Situated in Tazewell County, this center benefits from its strategic location and strong tenant mix, making it an attractive option for investors seeking a stable and high-traffic retail property. The property is classified as a commercial retail shopping center.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $22,703,000
      Market price range: $4.86M - $24.2M
      AI Estimate
      $24,123,000
      Market price range: $3.99M - $24.1M

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

    Location Insight

    • Map
    • Local Demand
    City
    Bluefield
    County
    Tazewell
    State
    Virginia
    Longitude
    -81.255
    Latitude
    37.2384
    CBSA code
    14140
    CBSA name
    BLUEFIELD, WV-VA MICROPOLITAN 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
    2019
    $92,449
    $5,092,500
    $10,846,900
    $15,939,400
    -
    $5,092,500
    $10,846,900
    $15,939,400

    Comparable in this City

    • Value Estimation
      $10,985,000
      127,489 SF

      515 Commerce Dr

      WHOLESALE OUTLET, DISCOUNT STORE • 127,489 SF
      515 Commerce Dr, Bluefield, VA 24605-9697
      View Details
    • Value Estimation
      $12,740,000
      123,928 SF

      601 Commerce Dr

      WHOLESALE OUTLET, DISCOUNT STORE • 123,928 SF
      601 Commerce Dr, Bluefield, VA 24605-9221
      View Details
    • Value Estimation
      $680,000
      66,310 SF

      2036 Leatherwood Ln

      SHOPPING CENTER, STRIP CENTER • 66,310 SF
      2036 Leatherwood Ln, Bluefield, VA 24605-2020
      View Details
    • Value Estimation by Request
      63,488 SF

      745 College Ave

      SHOPPING CENTER, STRIP CENTER • 63,488 SF
      745 College Ave, Bluefield, VA 24605-1640
      View Details
    • Value Estimation
      $830,000
      95,676 SF

      4003 College Ave

      MINI-MALL • 95,676 SF
      4003 College Ave, Bluefield, VA 24605-2043
      View Details
    • Value Estimation
      $620,000
      68,172 SF

      517 Commerce Dr

      MINI-MALL • 68,172 SF
      517 Commerce Dr, Bluefield, VA 24605-9697
      View Details

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    Similar Nearby for Lease

    • Contact for pricing
      1,510 SF

      Retail Space in Ridgeview Plaza

      Retail space available in shadow-anchored shopping center in Bluefield, VA.
      4003-4039 College Ave, Bluefield, VA 24605
      View Details
    • $7 SF/Yr
      11,550 SF

      Retail Space in College Plaza

      Large retail suite available in a busy shopping center.
      512-533 Commerce Dr, Bluefield, VA 24605
      View Details
    • Contact for pricing

      Retail Center Shadow Anchored

      Retail spaces available in shadow-anchored shopping center.
      4001 College Ave, Bluefield, VA 24605
      View Details
    View Listing
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    4001 College Ave
    Bluefield, VA 24605
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    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
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