1571-1587 N Main St - Storefront FOR SALE


Marion, VA 24354
$7,208,222 USD
714-400-6267
1571-1587 N Main St, Marion, VA for Sale
$7,208,222 USD
Storefront - FOR SALE
1/6
null | 7.75% Cap Rate

1571-1587 N Main St
Marion, VA 24354


HIGHLIGHTS

  • Anchor-Tenant Stability – 96% occupied retail center featuring Tractor Supply Co., Ollie’s Bargain Outlet, and Dollar Tree
  • Recent Lease Extensions (WALT of 6.0 Years) – Long-term renewals executed by Tractor Supply, Ollie’s, Dollar Tree, USGS, and the Virginia DMV
  • Attractive Assumable Debt – Below-market 5.7982% fixed interest rate available for assumption, with 3.7 years remaining and a 54.4% LTV
  • Prime Location & Visibility – Direct frontage on Lee Highway (US-11) and visibility from Interstate 81 (30,000 VPD), adjacent to Walmart Supercenter
  • Recent Capital Improvements – Upgrades to parking lot, HVAC systems, and exterior painting, with 7 years remaining on Ollie’s roof warranty
  • Regional Economic Stability – Marion serves as the county seat and commercial center for Smyth County, with employment from healthcare, government

OVERVIEW

Exclusively Listed in association with Joshua Peck, CCIM | VA License No. 0225189456 We are pleased to present qualified investors with the opportunity to acquire Marion Plaza Shopping Center, a dominant, regionally positioned retail asset anchored by Tractor Supply Co., Ollie’s Bargain Outlet, and Dollar Tree in Marion, Virginia. This high-performing shopping center offers ideal visibility and access, located directly on Lee Highway (US-11) with additional exposure from Interstate 81, which sees over 30,000 vehicles per day. The property sits adjacent to Walmart, further enhancing its consumer traffic and retail synergy. Currently 96% occupied with a weighted average lease term (WALT) of 6.0 years, Marion Plaza benefits from strong in-place tenancy and long-term stability. Tractor Supply Co. recently extended its corporate lease, while Dollar Tree, Ollie’s, and the Virginia Department of Motor Vehicles have all completed lease renewals. Other essential tenants include US Geological Service, Marion Family Pharmacy, Domino’s Pizza, Tender Tots Daycare, a VA Clinic, and Dr. Mary Curtiss, M.D, contributing to a healthy and diversified rent roll. The offering includes optional assumable financing at a compelling fixed interest rate of 5.7982%, well below current market rates. With 3.7 years of term remaining and a loan-to-value ratio of 54.4%, this financing option allows investors to step into the deal with enhanced cash-on-cash returns from day one, significantly increasing the appeal of the acquisition in today’s high-rate environment. Marion Plaza has also benefited from recent capital improvements, including upgrades to the parking lot, exterior painting, and HVAC replacements. The roof is in good condition, with seven years remaining on the roof warranty over the Ollie’s Bargain Outlet, further reducing near-term capital expenditure risk. This property falls within the State of Virginia’s ‘Enterprise Zone’ (VEZ Grant) meaning it qualifies for state funds for capital expenditures – an additional benefit to an owner. This is a rare opportunity to acquire a well-maintained, high-occupancy shopping center with a mix of national retailers and essential service tenants. With strong cash flow, favorable financing, and proven tenant performance, Marion Plaza offers investors a compelling combination of stability, yield, and upside.

FOR SALE DETAILS

PRICE

$7,208,222 USD

PRICE/SF

$65 USD /SF

CAP RATE

7.75%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Marion Plaza Shopping Center - Regional Cente

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

ADD'L SUBTYPES

Garden Center, Supermarket, Department Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1971

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

12.27 AC

LAND SF

534,481 SF

ZONING

-

APN/PARCEL ID

154-158-B,154-158-C,154-158-D

ASK ABOUT THIS PROPERTY

Spencer O'DonnellCharter Realty CompanyMore Info
714-400-6267

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Spencer O'DonnellCharter Realty CompanyMore Info
714-400-6267

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