2826-2842 Linkhorne dr - Retail FOR SALE


Lynchburg, VA 24503
$6,150,000 USD
706-564-8556
2826-2842 Linkhorne dr, Lynchburg, VA for Sale
$6,150,000 USD
Retail - FOR SALE
1/7
null | 8% Cap Rate

2826-2842 Linkhorne dr
Lynchburg, VA 24503


HIGHLIGHTS

  • Value add retail center
  • Strong demographics
  • Cell tower located on site with annual rental income of $157,000

OVERVIEW

Value add retail center • 13% vacancy allows for significant upside through lease up • Rents at Forest Hills are 34% below market, allowing for strong upside through lease up • Strong demographics • 5-mile population: 82,807 • 5-mile HHI: $81,590 • Cell tower located on site with annual rental income of $157,000 provides new ownership the opportunity to sell at an aggressive cap rate and lower their basis in the center • Comcast recently renewed and new generator to the site showing commitment to the center • Extending their term until Dec 2033 • Comcast’s central switching and server gear location for the region • Recently installed new generator as backup for the servers • Comcast has occupied the center since 1991 • New TPO roof on 53% of the center, 20,736sf • 10-year warranty on the new roof • Significant parking lot upgrades to be completed prior to a closing • New signage to be installed prior to closing

FOR SALE DETAILS

PRICE

$6,150,000 USD

PRICE/SF

$154 USD /SF

CAP RATE

8%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Forest Hills Shopping Center

PROPERTY TYPE

Retail

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1976

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

13.29 AC

LAND SF

578,813 SF

ZONING

C1

APN/PARCEL ID

169-09-002

ASK ABOUT THIS PROPERTY

Steve CollinsPalomar GroupMore Info
706-564-8556

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Steve CollinsPalomar GroupMore Info
706-564-8556

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