185 Old Courthouse RdAppomattox, VA 24522

Property Details for 185 Old Courthouse Rd

Lot size

8.54 AC

Property type

Commercial real estate

APN

64A2 A 31

APU

64A2A31

Description

Triangle Plaza Shopping Center, located at 185 Old Courthouse Rd, Appomattox, VA 24522, presents a compelling investment opportunity. This 79,000 square foot, Class B shopping center sits on a 9.6-acre lot at a high-traffic four-way intersection (Oakville Road and Old Courthouse Road), boasting over 16,000 vehicles passing daily. The property, built between 1970 and 1980 and renovated in 2024, features a single, two-story building with 17 units and 78,000 net rentable square feet, currently 95% occupied by 18 tenants, including Family Dollar. The asking price is $3,200,000, representing a price per square foot of $40.51 and a pro-forma cap rate of 3.17%. The property generates a pro-forma NOI of $101,301. The existing leases are modified, offering potential for increased revenue through conversion to standard market leases. The B2 zoning allows for a wide range of commercial uses. Ample parking is provided at a ratio of 5 spaces per 1,000 square feet. The property includes a prominent roadside pylon sign and benefits from a ground lease. This offering comprises two tax parcels: an 8.535-acre parcel containing the retail building and a separate 1.115-acre undeveloped parcel. The property's strong occupancy and location make it an attractive investment with significant upside potential.

• Alternative Use

  Use

  Valuation

  Residential

  $63,609,432

  Hospitality

  $58,265,896

  Educational

  $48,476,544

  Medical

  $50,143,724

  Retail

  $75,407,952

Location Insight

City

Appomattox

County

Appomattox

State

Virginia

Latitude

37.3647

Longitude

-78.8341

CBSA code

31340

CBSA name

LYNCHBURG, VA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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