Smith River Crossing
11,475 SF | 100% Leased | Retail Building | Martinsville, VA 24112 | $1,699,000 ($148/SF) | 7.81% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $1,699,000
- Property Type
-
Retail
- Square Feet
- 11,475 SF
- Price / Square Foot
- $148
Listing Contacts
Will Vaughn
Verified Profile
- Property Info
Property Overview
Smith River Crossing in Martinsville, VA is a 100% fully leased, 4 tenant 11,475 sf shopping center available for sale. The property was constructed in 2007 and has been well maintained. The subject offering affords an investor the opportunity to acquire a fully stabilized asset with a strong rental history and minimal landlord responsibility. The four current tenants include Aaron’s (dark), Virginia ABC, Blue Ridge Tobacco and Mega Force Staffing. The property is located in an Opportunity Zone.
A free-standing Starbucks location is currently being built across Greensboro Road (US-220 Business). Neighboring businesses include Food Lion, McDonald’s, Rural King, Dollar Tree, Planet Fitness, Big Lots, Dollar General, Advance Auto, Family Dollar, Subway, KFC, etc.
Smith River Crossing is located on Greensboro Road (US-220 Business), the main North/South corridor through Martinsville/Henry County with an AADT of 12,000. The shopping center can be accessed from either Greensboro Road or Rives Road.
Smith River Crossing is available at $1,699,000, which equates to an attractive 7.81% CAP with a 2023 NOI of $132,740. The four current tenants include Aaron’s (dark), Virginia ABC, Blue Ridge Tobacco and Mega Force Staffing. Current leases end 12/31/25, 8/31/29, 3/31/27 and 1/31/25 respectively. All leases are NNN and the Tenants reimburse the Landlord for their proportionate share of Real Estate Taxes, Property Insurance and CAM. The property is professionally managed by a local property management company.
A free-standing Starbucks location is currently being built across Greensboro Road (US-220 Business). Neighboring businesses include Food Lion, McDonald’s, Rural King, Dollar Tree, Planet Fitness, Big Lots, Dollar General, Advance Auto, Family Dollar, Subway, KFC, etc.
Smith River Crossing is located on Greensboro Road (US-220 Business), the main North/South corridor through Martinsville/Henry County with an AADT of 12,000. The shopping center can be accessed from either Greensboro Road or Rives Road.
Smith River Crossing is available at $1,699,000, which equates to an attractive 7.81% CAP with a 2023 NOI of $132,740. The four current tenants include Aaron’s (dark), Virginia ABC, Blue Ridge Tobacco and Mega Force Staffing. Current leases end 12/31/25, 8/31/29, 3/31/27 and 1/31/25 respectively. All leases are NNN and the Tenants reimburse the Landlord for their proportionate share of Real Estate Taxes, Property Insurance and CAM. The property is professionally managed by a local property management company.
Property Details
- Class
- C
- Year Built
- 2007
- Stories
- 1
- Property Subtype
- Storefront Retail/Office, Freestanding
- Lot Size (sq. ft)
- 89,734 SF
Highlights
- Attractive 7.81% CAP with 2023 NOI of $132,740
- 100% Leased, 4 Tenant Shopping Center on Greensboro Road - 12,000 AADT
- Minimal Landlord responsibilities with NNN Leases - Professionally Managed
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