2911-2935 Hershberger Rd NW - Retail FOR SALE


Roanoke, VA 24017- Miller Court-Arrowood
$6,995,000 USD
215-603-6914
2911-2935 Hershberger Rd NW, Roanoke, VA for Sale
$6,995,000 USD
Retail - FOR SALE
1/3
null | Request Cap Rate

2911-2935 Hershberger Rd NW
Roanoke, VA 24017
Miller Court-Arrowood


HIGHLIGHTS

  • Major Value-Add Opportunity - Subject Property is 75% vacant, priced on a per square foot basis, and represents an opportunity to increase NOI
  • Big Lots has occupied 29,726 s/f at this site since 2002, renewed their lease several times and currently has six years remaining
  • Roanoke Plaza is situated amid a major retail pocket and is directly adjacent to national retailers
  • There are more than 141,000 residents within 5 miles of the Property and population density is projected to grow in both the 3- and 5-mile radius
  • Located at a major interstate interchange with easy access to I-581 and Hershberger Road with combined traffic counts over 84,000 VPD

OVERVIEW

CBRE IS PLEASED TO EXCLUSIVELY PRESENT FOR SALE this 117,726 square foot Property located in Roanoke, Virginia. Big Lots has occupied 29,726 s/f at this site since 2002, renewed their lease several times and currently has six years remaining on a corporately guaranteed NN lease. Big Lots is a publicly traded company (NYSE: BIG) with 1,425 locations nationwide and 2023 revenue of $4.83B. The Subject Property is currently 75% vacant, is priced on a per square foot basis, and represents a rare opportunity to substantially increases the NOI by leasing the existing 88,000 SF of space, redeveloping the property entirely and/or potentially adding additional tenants on pad sites within the parking field.

FOR SALE DETAILS

PRICE

$6,995,000 USD

PRICE/SF

$58 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Roanoke Plaza | 117,726 SF Retail Opportunity

PROPERTY TYPE

Retail

ADD'L SUBTYPES

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1976

SPRINKLERS

-

PARKING SPACES

650

LAND DETAILS

LAND ACRES

10.99 AC

LAND SF

478,724 SF

ZONING

CLS

APN/PARCEL ID

645-0104

ASK ABOUT THIS PROPERTY

Matthew GormanCBRE, Inc.More Info
215-603-6914

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Matthew GormanCBRE, Inc.More Info
215-603-6914

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