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Property profile & analytics
OFF-MARKET
Neighborhood centers

780 Commonwealth Dr Norton, VA 24273

81,297 SF Built 2005
Property ID
US87-2434879
Property summary
AI-generated overview

Norton Commons, located at 780 Commonwealth Drive in Norton, Virginia (zip code 24273), presents a prime retail opportunity within a thriving neighborhood center. This 81,297 square foot shopping center, built in 2005, benefits from a strong Walmart shadow anchor and enjoys a strategic location just off US Highway 23, drawing shoppers from Virginia, West Virginia, Kentucky, and Tennessee. The center boasts 404 parking spaces, ensuring ample convenience for customers. Currently, 4,003 square feet of retail space is available for lease. The existing tenant mix includes a diverse range of established businesses, such as Bealls, Hibbett Sports, Maurices, Shoe Show, OneMain Financial, Sally Beauty Supply, and Verizon Wireless. This established center provides a high-traffic location with excellent visibility and accessibility, making it an ideal investment for businesses seeking a strong presence in a regional market. The property is situated in Wise County and offers a unique opportunity to capitalize on the significant regional draw of this well-established shopping destination. There are no internet cafes within the center. This property offers a compelling opportunity for businesses seeking a high-traffic, well-located retail space in a thriving regional market.

Property profile
Verified
Property type Neighborhood centers
Year built 2005
Total area 81,297 SF
UPID US87-2434879
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • SmartStyle Hair Salon Hair Salon
  • Walmart Business Center Tech Support Center (Bike/Boat/Book/etc) Store
  • Quick-Tag Shopping Center & Mall (Bike/Boat/Book/etc) Store
  • Primo Water Refill & Exchange Big Box & Wholesale Store
  • Walmart Vision & Glasses Ophthalmologist (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
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Comparable Approach Comparable
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Blend (final) Blend
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Owner & transaction history
Owner on record
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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