181 Plaza RdWise, VA 24293

Property Details for 181 Plaza Rd

Year built

1974

Lot size

3.07 AC

Property size (Sq ft)

34,622 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

This exceptional retail investment opportunity features a 34,622 square foot Tractor Supply store in Wise, Virginia. Built in 1974 and extensively renovated in 2021, including a new roof with warranty extending to 2036, the property boasts a 100% occupancy rate with a strong, investment-grade corporate tenant (S&P: BBB, Moody's: Baa1) under a Net Net + Lease agreement extending to 2036. The property sits on a 3.07-acre lot in a prime retail corridor with high daily traffic counts (21,442 vehicles per day) and excellent visibility from Highway 23. Adjacent to a large retail center anchored by Ashley Furniture and Big Lots, and near other national retailers including Walmart, Lowe's, Food City, Ollie's, and Harbor Freight, this location offers exceptional visibility and accessibility. The property generates a substantial net operating income (NOI) of $163,109, representing a 7.00% cap rate, and an asking price of $2,330,000 ($67.30/sq ft). An assumable loan is in place, making this a compelling investment opportunity with significant upside potential. Recent upgrades include LED parking lot lighting. Tractor Supply has occupied the property since 2007, demonstrating long-term commitment to the location and its expansion in 2021 further solidifies this commitment.

Location Insight

City

Wise

County

Wise

State

Virginia

Latitude

36.9725

Longitude

-82.5965

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