Roanoke Plaza | 117,726 SF Retail Opportunity
117,726 SF | 93% Leased | Retail Building | Roanoke, VA 24017 | $8,250,000 ($70/SF)
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $8,250,000
- Property Type
-
Retail
- Square Feet
- 117,726 SF
- Price / Square Foot
- $70
Listing Contacts
Matthew Gorman
Verified Profile
Michael Shover
Verified Profile
- Property Info
Property Overview
CBRE IS PLEASED TO EXCLUSIVELY PRESENT FOR SALE this 117,726 square foot Property located in Roanoke, Virginia. Big Lots has occupied 29,726 s/f at this site since 2002, renewed their lease several times and currently has six years remaining on a corporately guaranteed NN lease. Big Lots is a publicly traded company (NYSE: BIG) with 1,425 locations nationwide and 2023 revenue of $4.83B. The Subject Property is currently 75% vacant, is priced on a per square foot basis, and represents a rare opportunity to substantially increases the NOI by leasing the existing 88,000 SF of space, redeveloping the property entirely and/or potentially adding additional tenants on pad sites within the parking field.
Property Details
- Class
- C
- Year Built
- 1976
- Stories
- 1
- Lot Size (sq. ft)
- 478,724 SF
Highlights
- Major Value-Add Opportunity - Subject Property is 75% vacant, priced on a per square foot basis, and represents an opportunity to increase NOI
- Big Lots has occupied 29,726 s/f at this site since 2002, renewed their lease several times and currently has six years remaining
- Roanoke Plaza is situated amid a major retail pocket and is directly adjacent to national retailers
- There are more than 141,000 residents within 5 miles of the Property and population density is projected to grow in both the 3- and 5-mile radius
- Located at a major interstate interchange with easy access to I-581 and Hershberger Road with combined traffic counts over 84,000 VPD
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