730 Church StMartinsville, VA 24112

Property Details for 730 Church St

Year built

1962

Lot size

16.60 AC

Zone code

C-N

Property type

Specialty properties

Property subtype

Other shopping centers

APN

35 (04 )00 /X

APU

350400X

Description

This exceptional investment opportunity presents 213,869 square feet of retail, office, and restaurant space within the Patrick Henry Mall, situated on a 16.6-acre lot in Martinsville, Virginia. The property, located at 730 Church St E, boasts a prime location in the Southern Virginia submarket, with convenient access via Brookdale Street. Built in 1962 and zoned C-N (APN 000137300), the mall offers multiple tenancy options with spaces ranging from 2,300 to 84,085 contiguous square feet. Seven spaces are currently available, ideal for a variety of executive office uses. The property benefits from its established tenant mix, including a CVS Pharmacy directly adjacent, and presents significant redevelopment potential for larger suites. The property's extensive size and strategic location in Henry County, VA (zip code 24112), make it an attractive proposition for businesses seeking a prominent presence in the area. This well-maintained property offers a blend of established retail and service tenants, providing a strong foundation for future growth and profitability. The minimum divisible space is 2,300 square feet.

• CAP approach

  CAP return

  Valuation

  6%

  $116,604,184

  6.5%

  $107,634,632

  7%

  $99,946,448

• Comparable approach

  Method

  Valuation

  Relative Method

  $231,269,648

  Geo Method

  $418,217,920

• Alternative Use

  Use

  Valuation

  Residential

  $90,793,840

  Hospitality

  $83,166,672

  Educational

  $69,193,696

  Medical

  $71,573,368

  Retail

  $107,634,632

Location Insight

City

Martinsville

County

Martinsville City

State

Virginia

Latitude

36.6883

Longitude

-79.855

CBSA code

32300

CBSA name

MARTINSVILLE, VA MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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