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Walgreens (Dark) | Value-Add Opportunity 1500 Piney Forest Rd 14,550 SF Retail Building Danville, VA 24540 $4,333,000 ($297.80/SF) 9% Cap Rate
Investment Highlights
- 11+ Years Remaining | Value-Add Opportunity | Drive-Thru Equipped
- Dense Retail Corridor | Established National Brands
- Direct Residential Consumer Base | Strong Demographics
- Signalized Intersection Location | Excellent Visibility
- Proximity To Community Anchors
Executive Summary
SRS National Net Lease is pleased to present the opportunity to acquire the fee simple interest (land & building ownership) in a dark Walgreens property located in Danville, Virginia. The asset offers approximately 11 years of remaining lease term, providing stable near-term in-place income. The tenant is currently dark, creating a compelling value-add opportunity through future re-tenanting or redevelopment. The existing drive-thru infrastructure enhances flexibility for a wide range of retail, restaurant, or medical users while reducing future redevelopment costs
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
14,550 SF
Building Class
B
Year Built
2012
Price
$4,333,000
Price Per SF
$297.80
Cap Rate
9%
NOI
$390,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.16
Lot Size
2.15 AC
Zoning
HR-C - Highway Retail Commercial
Parking
77 Spaces (5.29 Spaces per 1,000 SF Leased)
Frontage
428’ on Piney Forest Rd
Amenities
- Corner Lot
- Pylon Sign
- Signalized Intersection
- Drive Thru
Nearby Major Retailers
Property Taxes
| Parcel Number | 55904 | Improvements Assessment | $2,071,900 |
| Land Assessment | $479,400 | Total Assessment | $2,551,300 |
Property Taxes
Parcel Number
55904
Land Assessment
$479,400
Improvements Assessment
$2,071,900
Total Assessment
$2,551,300
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Walgreens (Dark) | Value-Add Opportunity | 1500 Piney Forest Rd
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