Riverside Shopping Center

Shopping Center for Sale
Sale Pending/Contingent
Catylist Listing ID: 30364860
Property Subtypes: Free-Standing Store, Strip Center
Status: Pending/Contingent
Building Size (RSF): 51,318 SF
Gross Building Area: See Agent
Gross Land Area: 6.61 Acres
Sale Price: $3,495,000
Unit Price: $68.10 PSF
Property Use Type: Business
Building Name: Riverside Shopping Center
Sale Terms: Build-to-Suit, Other
Cap Rate: Undisclosed
Average Occupancy Rate: 100
Last Updated: 10/25/2020

Overview / Comments

GREAT INCOME PROPERTY FOR SALE WITH HIGH DAILY TRAFFIC COUNTS. THE 2017 VDOT TRAFFIC COUNT FOR U.S. 58-A AT THE WISE/RUSSELL COUNTY LINE IS 11,000 FOR AUTOMOBILES AND 12,000 PER DAY FOR ALL VEHICLES. THE RIVERSIDE SHOPPING CENTER IN ST. PAUL, VA, ADJACENT TO U.S. HWY. 58-A, IS BEING OFFERED FOR SALE. THIS CENTER IS FULLY OCCUPIED AND HAS AN 8% CAP RATE, LESS AN ATTACHED OUT-PARCEL NEXT TO THE HUDDLE HOUSE LOCATION. TENANTS INCLUDE WALGREENS, ROSES DEPARTMENT STORES, BALLAD HEALTH, VIRGINIA ABC, HUDDLE HOUSE RESTAURANT.

Current Tenants

Tenant Business Name Walgreens
Is Renting? Yes
Annual Revenue $80,000 (Annual)
Tenant Business Name Variety Wholesale DBA Roses Department Store
Is Renting? Yes
Annual Revenue $121,000 (Annual)
Tenant Business Name Ballad Health
Is Renting? Yes
Annual Revenue $49,800 (Annual)
Tenant Business Name Virginia ABC Store
Is Renting? Yes
Annual Revenue $13,272 (Annual)
Tenant Business Name Huddle House
Is Renting? Yes
Annual Revenue $48,000 (Annual)

Additional Details

Nearest MSA: Big Stone Gap
County: Wise
Tax ID/APN: 157L IB 4,4B
Zoning: C-1
Retail Clientele: Business, Recreation
Property Located Between: Abingdon, VA - Norton, VA
Property Visibility: Excellent
Largest Nearby Street: U.S. Highway 58-A
Traffic/Vehicle Count: 12,000
Total Number of Buildings: 2
Number of Stories: 1
Property Condition: Good
Roof Type: Flat
Construction/Siding: Aluminum Siding, Block
Parking Type: Surface
Sprinklers: None
Heat Type: Electricity
Heat Source: Heat Pump
Air Conditioning: Package Unit
Zoning Description: C-1
Water Service: Municipal
Sewer Type: Municipal
Easements: Electric Lines, Utilities
Land Ownership: St. Paul Center, LLC
Legal Description: Per deed

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 2,806 7,337
Median Age: 43.62 43.69
Households: 1,215 3,101

Contact

Photograph of Listing Agent

Fred McClellan

Callebs Realty NETAR CMLS Member
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