2801 Greensboro RdMartinsville, VA 24112

Property Details for 2801 Greensboro Rd

Year built

2007

Lot size

2.06 AC

Property size (Sq ft)

11,475 SF

Property type

Retail properties

Property subtype

Lifestyle centers

Description

This 11,475 square foot Class A shopping center in Martinsville, VA, presents a compelling investment opportunity. Built in 2007 on a 2.06-acre lot, the property boasts 100% occupancy with four tenants: Aaron's Furniture (dark space), Virginia ABC, Blue Ridge Tobacco, and Mega Force Staffing. The property features 99 parking spaces and is situated on Greensboro Road (US-220 Business), a major thoroughfare with a high average annual daily traffic count of 12,000. The center benefits from a Net Lease (NNN) structure, with tenants responsible for their pro-rata share of real estate taxes, insurance, and common area maintenance. The current asking price is $1,699,000, representing a 7.81% capitalization rate based on a 2023 Net Operating Income (NOI) of $132,740. Lease terms vary, with expiration dates ranging from 2025 to 2029. The property is zoned I2 and enjoys a prime location near other established businesses including Food Lion, McDonald's, Rural King, and more. A new Starbucks is under construction across the street. This well-maintained asset offers a stable income stream with minimal landlord responsibilities and built-in rent bumps. The property is located in an Opportunity Zone. The single-story building provides easy access and ample parking for tenants and customers. Access is available from both Greensboro Road and Rives Road.

Location Insight

City

Martinsville

County

Henry

State

Virginia

Latitude

36.6526

Longitude

-79.8725

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