3911 Challenger Ave - Retail FOR SALE


Roanoke, VA 24012
$3,645,000 USD
980-498-3293
3911 Challenger Ave, Roanoke, VA for Sale
$3,645,000 USD
Retail - FOR SALE
1/5
null | 5.35% Cap Rate

3911 Challenger Ave
Roanoke, VA 24012


HIGHLIGHTS

  • LARGEST DENTAL ORGANIZATION GUARANTY
  • NEW CONSTRUCTION IN A HIGH TRAFFICKED CORRIDOR
  • HARD-CORNERED SITE

OVERVIEW

ABS. NNN LEASE STRUCTURE - One of the first Abs. NNN Heartland Dental lease formats - Zero landlord Responsibilities - 12 Year lease with four (4) five (5) year extensions - 10% Rental Increases every 5 years and in extensions LARGEST DENTAL ORGANIZATION GUARANTY - Heartland Dental is the largest dental support organization in the United States - Over 1,800 Locations | 2024 Total Revenue was over $3B HARD-CORNERED SITE - Prominent hard-corner positioning at the signalized intersection of Challenger Ave (Route 460) and Carson Rd - Excellent access and visibility to over 34,000 vehicles per day POSITIONED IN DENSE RETAIL NODE - Within a 1-mile radius of the site is more than 491K SF of retail space - Vacancy Rate within that radius is 0.3% - Nearby national retailers include: Kroger, Lowe’s Home Improvement, Walmart Supercenter, and more NEW CONSTRUCTION IN A HIGH TRAFFICKED CORRIDOR - The Building has recently been constructed to suit the tenant’s need - Site is positioned off of busy SR 64 E (31K VPD) HIGH GROWTH ROANOKE-DANVILLE-LYNCHBURG, MSA - The Roanoke–Danville–Lynchburg regional market is forecasted to grow ~1.8% over the next 5 years (from ~1,139,848 to ~1,160,033) - Roanoke MSA population ~315,749 in 2024 - Lynchburg MSA’s median household income has risen steadily, now ~$67,782 - The combined corridor is seeing reinvestment and expansion in retail, medical, and residential sectors as the geographic crossroads between two growth hubs of southern/central Virginia

FOR SALE DETAILS

PRICE

$3,645,000 USD

PRICE/SF

$856 USD /SF

CAP RATE

5.35%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Heartland Dental

PROPERTY TYPE

Retail

ADD'L SUBTYPES

Freestanding, Service Station

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2024

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

-

APN/PARCEL ID

050.01-01-02.04-0000

ASK ABOUT THIS PROPERTY

David HoppeAtlantic Capital PartnersMore Info
980-498-3293

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David HoppeAtlantic Capital PartnersMore Info
980-498-3293

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