1380 E Main St - Supermarket FOR SALE


Wytheville, VA 24382
$8,060,550 USD
561-602-8390
1380 E Main St, Wytheville, VA for Sale
$8,060,550 USD
Supermarket - FOR SALE
1/11
null | 6.5% Cap Rate

1380 E Main St
Wytheville, VA 24382


HIGHLIGHTS

  • Grocery-anchored center with 45+ years of Food Lion tenancy, $10.2M sales, and long-term Ahold-backed lease through 2055
  • Three national tenants drive 72%+ of rent, providing diversified, recession-resistant income
  • CVS generates nearly $10M in annual sales, highlighting strong secondary-market demand
  • Tractor Supply extended through 2037 with a $200K capital investment, signaling long-term commitment
  • 100% occupied with contractual rent growth built into every major lease, providing NOI increases without re-leasing risk
  • Prime location at the I-81 / I-77 crossroads capturing major regional traffic.

OVERVIEW

The Twist Capital Team of Colliers is pleased to present for sale LeHy Plaza Shopping Center, a rare grocery anchored retail center totaling 87,964 square feet on 9.196 acres located at the intersection of Interstate 81 and Interstate 77 in Wytheville, Virginia. Well located grocery anchored centers with proven anchor sales performance and national credit tenancy continue to be among the most aggressively pursued assets in retail investment, and LeHy Plaza delivers on every metric that institutional and private capital is competing for. The center is anchored by Food Lion, one of the most established and operationally consistent grocers in the Mid Atlantic and Southeast, supported by a complementary lineup of national and regional tenants including CVS, Tractor Supply Company, Label Shopper, SWVA Pawn, and a long term Verizon Wireless rooftop antenna lease. The tenant mix produces a defensive, daily needs income stream weighted toward investment grade credit and recession resistant categories that consistently outperform discretionary retail through every cycle. Anchor and inline tenants share strong operating histories at this location, with sales productivity and lease renewal behavior that reflect genuine trade area dominance rather than locational dependency. Location is the foundation of this offering. The property sits at the confluence of two of the most heavily traveled interstate corridors in the eastern United States. Interstate 81 carries one of the highest freight volumes on the East Coast, while Interstate 77 serves as the primary north south route connecting the Carolinas to the Ohio Valley. Wytheville functions as the dominant retail and service hub for a regional trade area that draws consumers from southwestern Virginia, southern West Virginia, eastern Tennessee, and northwestern North Carolina. There is no comparable concentration of national retail within a thirty mile radius, which has produced sustained sales performance and tenant retention at LeHy Plaza for decades. Interstate visibility, dual interchange access, and signalized ingress along the primary commercial corridor make the site genuinely irreplaceable. The income profile is built for long term hold investors who prioritize durability over speculative yield. Leases are structured with scheduled rent increases, expense recoveries, and staggered expirations that mitigate rollover risk. Reported anchor sales support strong rent coverage and renewal probability, providing the underwriting comfort that institutional and family office capital expects from grocery anchored product. The Verizon rooftop antenna lease adds an additional layer of passive, credit backed cash flow with minimal landlord obligation. From an investment standpoint, the combination of grocery anchored tenancy, irreplaceable interstate frontage, dominant trade area positioning, and a roster weighted toward needs based retail makes LeHy Plaza a textbook example of the asset profile private capital and 1031 buyers are aggressively chasing in the current market. Yield premiums available on well located grocery anchored centers outside primary metropolitan markets continue to attract sophisticated capital seeking durable, inflation protected cash flow without compromising real estate fundamentals or tenant credit quality.

FOR SALE DETAILS

PRICE

$8,060,550 USD

PRICE/SF

$212 USD /SF

CAP RATE

6.5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Food Lion Grocery Anchored Center

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Supermarket

ADD'L SUBTYPES

Storefront, Department Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1981

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

10.39 AC

LAND SF

452,588 SF

ZONING

-

APN/PARCEL ID

041A-001-0000-0125A

ASK ABOUT THIS PROPERTY

Christopher TwistColliersMore Info
561-602-8390

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Christopher TwistColliersMore Info
561-602-8390

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.