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1005 S Craig Ave 112,469 SF 100% Leased Industrial Building Covington, VA 24426 For Sale
Investment Highlights
- Food Lion Anchor: In Virginia, Food Lion holds a 27.7% statewide visit share, making it the most-visited chain in the state.
- Retail Market Growth: Covington VA’s retail market features a mix of established retailers and smaller businesses, with a focus on convenience
- National Credit Tenants: Tenant roster at Allegheny Square is comprised of over 55% national credit retailers, facilitating overall stability
- Strong Grocery Sales: With roughly 3 years remaining on the lease, Food Lion reports sales in excess of $20M
- Prime Retail Location: Well-situated in the epicenter of retail in Covington on South Craig Blvd, with superb visibility.
- Outparcel Draws: A diverse range of ancillary outparcel draws, including Wells Fargo, Verizon, Truist Bank, and Wendy’s
Executive Summary
Broker of Record
Kyle Matthews
License # 226035518, 225225982 (VA)
Matthews Real Estate Investment Services, Inc
1600 West End Ave, Ste. 1500 Nashville, TN 37203
(866) 889-0550
Kyle Matthews
License # 226035518, 225225982 (VA)
Matthews Real Estate Investment Services, Inc
1600 West End Ave, Ste. 1500 Nashville, TN 37203
(866) 889-0550
Property Facts
| Sale Type | Investment | No. Stories | 1 |
| Property Type | Industrial | Year Built | 1900 |
| Property Subtype | Warehouse | Clear Ceiling Height | 16’ |
| Building Class | C | No. Dock-High Doors/Loading | 2 |
| Lot Size | 1.00 AC | No. Drive In / Grade-Level Doors | 1 |
| Rentable Building Area | 112,469 SF | Opportunity Zone |
Yes
|
| Zoning | Enterprise | ||
| Sale Type | Investment |
| Property Type | Industrial |
| Property Subtype | Warehouse |
| Building Class | C |
| Lot Size | 1.00 AC |
| Rentable Building Area | 112,469 SF |
| No. Stories | 1 |
| Year Built | 1900 |
| Clear Ceiling Height | 16’ |
| No. Dock-High Doors/Loading | 2 |
| No. Drive In / Grade-Level Doors | 1 |
| Opportunity Zone |
Yes |
| Zoning | Enterprise |
1 1
Somewhat walkable
30/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 018-0A-0000-00013 | Improvements Assessment | $2,224,300 |
| Land Assessment | $438,800 | Total Assessment | $2,663,100 |
Property Taxes
Parcel Number
018-0A-0000-00013
Land Assessment
$438,800
Improvements Assessment
$2,224,300
Total Assessment
$2,663,100
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1005 S Craig Ave
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