1525 Main StWaynesboro, PA 17268

Property Details for 1525 Main St

Lot size

15.47 AC

Property size (Sq ft)

117,951 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

This 117,951-square-foot retail property, located at 1525 E Main St, Waynesboro, PA 17268, is a multi-tenant shopping center anchored by a brand-new (2024 lease) ALDI and Tractor Supply. The center boasts a 96.7% occupancy rate, with a dynamic tenant lineup including Dollar Tree, Rite Aid, and Hardee's/Carl's Jr. A significant portion of the center's income (47.84%) is derived from ALDI and Tractor Supply, which together occupy 44.44% of the gross leasable area (GLA). Tractor Supply recently signed a new 10-year lease extension. The property shows excellent leasing momentum, with 58,051 square feet signed or renewed in 2024. National and credit tenants comprise 94.94% of total revenue, providing income surety. A weighted average lease term (WALT) of 8.62 years further enhances the investment's stability. Significant value-add opportunities exist, including 3,874 square feet available for lease and approximately 75,435 square feet of tenancy currently paying below-market rent (50-70%). The property sits on a 15.47-acre lot and enjoys a prime location along Route 16 (17,714 vehicles per day), within Waynesboro's main retail corridor, offering limited competition. The property consists of nine units and underwent renovations in 2024.

Location Insight

City

Waynesboro

County

Franklin

State

Pennsylvania

Latitude

39.7454

Longitude

-77.5522

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