Danville Plaza

Danville, WV

Offering Summary

  • Status: active
  • Price: $2,620,000
  • Cap Rate: 9.00%
  • GLA: 42,984 SF
  • Net Operating Income: $235,760
  • Price/SF: $61
  • Year(s) Built: 1982
  • Lot Size (Acres): 2.8 Acres
  • Major Tenants: Save-A-Lot, Family Dollar, US Post Office
  • Two Property Grocery-Anchored Offering – Free Standing Save-A-Lot (40.7% of Ttl GLA), Family Dollar Anchored Strip Center
  • 100% Occupied Across 42,984 SF – Avg In-Place Annual Rent of $6.38/SF vs $11/SF (Market)
  • Priced Below Replacement Cost at $61/SF – Properties span 2.8 Acres Plus
  • Favorable Expense Structure – Tenants Reimburse 58% of Operating Expenses
  • If Self-Managed, Additional $12,700 to NOI – Adds .50 bps to Asking CAP (9.5%)
  • 90% of Tenants in Place for 10+ Years; 60% of Tenants in Place for 30+ Years
  • Family Dollar Rent to Sales Ratio of 2.85% Compared To National Average 6.5%
EXCLUSIVELY LISTED BY:

Ashley Riegert

Associate