4026 Wards Rd Ste A Lynchburg, VA 24502-2977

Property Details for 4026 Wards Rd Ste A

Year built

2007

Lot size

0.86 lot acres

Property size

8,107 SF

Zone code

B5C

Property type

Community centers

APN

257 05 014

APU

25705014

Description

This exceptional investment opportunity presents a 30,800 square foot, Class A, single-tenant retail storefront occupied by Sportsman's Warehouse, a credit-rated, publicly traded company (NASDAQ: SPWH). Located at 4026 Wards Rd, Lynchburg, VA 24502, this property boasts a prime location in the Wards Crossing Shopping Center, benefiting from high traffic counts exceeding 40,000 vehicles per day on Wards Road and over 42,000 VPD at the nearby intersection of Routes 460 and 29. The property enjoys immediate proximity to Liberty University, with its substantial student population of 96,709. Built in 2000 and extensively renovated in 2022, the building sits on a 4.32-acre lot. The current lease, commencing February 1, 2023, and expiring January 31, 2033, offers a remaining term of 8.2 years with four 5-year renewal options. Each renewal includes a 10% rent increase, providing excellent inflation protection. The current Net Operating Income (NOI) is $462,000, resulting in a 7.25% cap rate. The asking price is $6,375,000. Nearby retailers include Target, ALDI, PetSmart, Michaels, Best Buy, Barnes & Noble, and many more, further enhancing the property's desirability and strong tenant base. This NNN lease minimizes landlord responsibilities, making it an ideal investment opportunity with significant long-term potential.