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Dan River Falls 420 Memorial Dr 1,000 - 78,639 SF of Flex Space Available in Danville, VA 24541
Highlights
- Positioned along the Dan River, Dan River Falls offers a high-visibility riverfront redevelopment opportunity in a rapidly evolving district.
Space Availability (1)
Display Rental Rate as
- Space
- Size
- Term
- Rental Rate
- Rent Type
| Space | Size | Term | Rental Rate | Rent Type | ||
| 1st Floor | 1,000-78,639 SF | 5 Years | $16.00 /SF/YR $1.33 /SF/MO $1,258,224 /YR $104,852 /MO | Triple Net (NNN) |
1st Floor
Positioned along the Dan River, Dan River Falls offers a highly visible riverfront redevelopment opportunity within one of Southern Virginia’s most active and rapidly evolving districts. The site benefits from direct adjacency to Riverfront Park and the Riverwalk Trail, which generate consistent year-round activity through outdoor recreation, community events, and daily local use. Located within Danville’s award-winning River District, the property is integrated with a walkable downtown environment featuring locally owned restaurants, retail, office space, and residential development. The site also benefits from proximity to Caesars Virginia, a major regional destination that contributes to increased visitation and ongoing economic activity within the River District and surrounding areas. This connectivity reinforces the site’s role as a natural extension of downtown and supports a mix of commercial and experiential uses. The region continues to demonstrate strong tourism and economic momentum, with Danville and Pittsylvania County recognized as one of Virginia’s fastest-growing visitor destinations. Sustained public investment and increasing visitation support viable opportunities for destination retail, food and beverage, and mixed-use concepts in high-visibility locations. The existing historic mill structure offers highly flexible, large-format floor plates suitable for adaptive reuse and subdivision. Spaces can accommodate a variety of commercial uses—including retail, food and beverage, office, and experiential concepts with the ability to configure layouts to meet project-specific needs. The building is delivered in shell condition, allowing for full customization and phased redevelopment to support single or multi-tenant occupancy. Public incentives may be available to support redevelopment, subject to project scope and approval.
- Lease rate does not include utilities, property expenses or building services
- 1 Loading Dock
- Central Air Conditioning
- High Ceilings
- Wheelchair Accessible
- Historic Mill Redevelopment
- Riverfront Flex Redevelopment
- Adaptive Reuse Opportunity
Rent Types
The rent amount and type that the tenant (lessee) will be responsible to pay to the landlord (lessor) throughout the lease term is negotiated prior to both parties signing a lease agreement. The rent type will vary depending upon the services provided. For example, triple net rents are typically lower than full service rents due to additional expenses the tenant is required to pay in addition to the base rent. Contact the listing broker for a full understanding of any associated costs or additional expenses for each rent type.
1. Full Service: A rental rate that includes normal building standard services as provided by the landlord within a base year rental.
2. Double Net (NN): Tenant pays for only two of the building expenses; the landlord and tenant determine the specific expenses prior to signing the lease agreement.
3. Triple Net (NNN): A lease in which the tenant is responsible for all expenses associated with their proportional share of occupancy of the building.
4. Modified Gross: Modified Gross is a general type of lease rate where typically the tenant will be responsible for their proportional share of one or more of the expenses. The landlord will pay the remaining expenses. See the below list of common Modified Gross rental rate structures: 4. Plus All Utilities: A type of Modified Gross Lease where the tenant is responsible for their proportional share of utilities in addition to the rent. 4. Plus Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of cleaning in addition to the rent. 4. Plus Electric: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical cost in addition to the rent. 4. Plus Electric & Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical and cleaning cost in addition to the rent. 4. Plus Utilities and Char: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the utilities and cleaning cost in addition to the rent. 4. Industrial Gross: A type of Modified Gross lease where the tenant pays one or more of the expenses in addition to the rent. The landlord and tenant determine these prior to signing the lease agreement.
5. Tenant Electric: The landlord pays for all services and the tenant is responsible for their usage of lights and electrical outlets in the space they occupy.
6. Negotiable or Upon Request: Used when the leasing contact does not provide the rent or service type.
7. TBD: To be determined; used for buildings for which no rent or service type is known, commonly utilized when the buildings are not yet built.
Property Facts
| Total Space Available | 78,639 SF | Gross Leasable Area | 550,000 SF |
| Min. Divisible | 1,000 SF | Year Built | 2024 |
| Property Type | Retail |
| Total Space Available | 78,639 SF |
| Min. Divisible | 1,000 SF |
| Property Type | Retail |
| Gross Leasable Area | 550,000 SF |
| Year Built | 2024 |
About the Property
Positioned along the Dan River, Dan River Falls offers a highly visible riverfront redevelopment opportunity within one of Southern Virginia’s most active and rapidly evolving districts. The site benefits from direct adjacency to Riverfront Park and the Riverwalk Trail, which generate consistent year-round activity through outdoor recreation, community events, and daily local use. Located within Danville’s award-winning River District, the property is integrated with a walkable downtown environment featuring locally owned restaurants, retail, office space, and residential development. The site also benefits from proximity to Caesars Virginia, a major regional destination that contributes to increased visitation and ongoing economic activity within the River District and surrounding areas. This connectivity reinforces the site’s role as a natural extension of downtown and supports a mix of commercial and experiential uses. The region continues to demonstrate strong tourism and economic momentum, with Danville and Pittsylvania County recognized as one of Virginia’s fastest-growing visitor destinations. Sustained public investment and increasing visitation support viable opportunities for destination retail, food and beverage, and mixed-use concepts in high-visibility locations. The existing historic mill structure offers highly flexible, large-format floor plates suitable for adaptive reuse and subdivision. Spaces can accommodate a variety of commercial uses, including retail, food and beverage, office, and experiential concepts with the ability to configure layouts to meet project-specific needs. The building is delivered in shell condition, allowing for full customization and phased redevelopment to support single or multi-tenant occupancy. Public incentives may be available to support redevelopment, subject to project scope and approval.
Marketing Brochure
Demographics
Demographics
Nearby Major Retailers
Presented by
City of Danville, Virginia
Dan River Falls | 420 Memorial Dr
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