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Shops to Spradlin Farms
Christiansburg, VA 24073

Fully Occupied Shops to Target- NNN Leases · Retail Property For Sale

Investment Highlights

  • 100% Occupied Multi-Tenant NNN Class A Property - Synergistic Mix Essential National/Regional Tenants
  • Proven Essential Retailers - Recent 2020 Lease Executions - Staggered Lease Terms/Below Market Rents
  • Pride of Ownership Brick Construction - Excellent Inflation Hedge with Rent Bumps - Huge Traffic Flows
  • High Profile Shops to Super Target - Spradlin Farms Power Center (181K SF) - Home Depot/TJ Maxx/Petco
  • Affluent Suburb Outside of Roanoke with Strong Demo’s ($83,889 HHI) - New River Valley’s Retail Hub
  • Positioned with all Major Retail (New River Valley Mall/Walmart/Lowes) - Near Virginia Tech University •

Executive Summary

We are pleased to offer to qualified investors an opportunity to acquire a 100% occupied, multi-tenant retail asset (Spradlin Farms Shops) that is fully leased to national tenants in the main retail trade cohort of Christiansburg, VA. The subject property is a 13,955 square foot freestanding retail building that is situated on a 1.82 acre lot directly adjacent to Target and is a part of the 181,055 SF Spradlin Farms regional shopping center anchored by T.J. Maxx, Michaels, Petco, Barnes & Nobles, Big Lots and shadow Anchored by Target and The Home Depot. Located just 6 miles from Virginia Tech, the subject property benefits from its proximity to the university which has over 37,000 students enrolled as well as its proximity to major regional thoroughfares such as Highway 460 and Interstate 81. Additionally, this retail trade area serves as the dominant shopping center destination for a 25+ mile radius as it is the largest retail trade cohort outside of Roanoke, VA. This is a rare opportunity to acquire an exceptionally well located, 100% occupied retail asset on a large 1.82 acre lot, with fixed rental increases, near one of the most recognized and well attended university’s in the U.S.

PROPERTY FACTS

Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
128,562 SF
Building Class
C
Year Built
2000
Price
$6,043,500 CAD
Price Per SF
$47 CAD
Cap Rate
6%
NOI
$362,354 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.21
Lot Size
13.88 AC
Zoning
B-3
Parking
2,275 Spaces (17.7 Spaces per 1,000 SF Leased)

Amenities

  • Pylon Sign

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
035290
Land Assessment
$10,133,314 CAD
Improvements Assessment
$16,296,165 CAD
Total Assessment
$26,429,479 CAD
  • Listing ID: 23854615

  • Date on Market: 2021-08-06

  • Last Updated:

  • Address: Shops to Spradlin Farms, Christiansburg, VA 24073

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