Log In/Sign Up
Your email has been sent.
50-60 Firstwatch Dr
Moneta, VA 24121
Lakewatch Retail Center - Moneta, VA · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- 40% Below-Market Rents: Significant upside through lease-up, renewals, and re-tenanting.
- Strong Tenant Mix: Includes national brand Domino’s, providing stability and consistent customer draw.
- Growing Retail Corridor: Increasing demand from both yearround residents and peak-season visitors, limited competing supply.
- Affluent Trade Area: AHHI $124,000+, driven by permanent residents, lake-home owners, and retirees.
- Major Vacation Destination: Located at Smith Mountain Lake, one of Virginia’s top recreation markets with strong seasonal traffic.
- Diverse Customer Base: Captures local, second-home, and tourist spending.
EXECUTIVE SUMMARY
We are pleased to exclusively offer for sale the Lakewatch Retail Center at 50–60 Firstwatch Drive, a 21,360 SF property situated in the affluent trade area of Moneta, VA. The center benefits from strong demographics, including average household incomes above $124,000 and a steady customer base of full-time residents, lake-home owners, and retirees. Anchored by a reliable tenant mix of national and local brands, including Domino’s, the property maintains consistent traffic and stability. Additionally, the asset presents a compelling value-add opportunity, with current rents significantly below market and substantial upside available through lease-up, renewals, and strategic re-tenanting.
In Cooperation With Sands Investment Group, Inc - Lic. ##0226037527 BoR: Tom Gorman - Lic. VA #0225269275
In Cooperation With Sands Investment Group, Inc - Lic. ##0226037527 BoR: Tom Gorman - Lic. VA #0225269275
PROPERTY FACTS
Sale Type
Investment
Property Type
Building Size
21,360 SF
Building Class
B
Year Built
2008
Price
$2,700,000
Price Per SF
$126.40
Cap Rate
6.51%
NOI
$175,731
Percent Leased
97%
Tenancy
Multiple
Building Height
1 Story
Loading Docks
6 Exterior
Building FAR
0.13
Lot Size
3.75 AC
Zoning
PCD - Planned Commercial Development, allowing flexible mixed-use and many B-2 commercial uses.
Parking
101 Spaces (4.73 Spaces per 1,000 SF Leased)
Frontage
500’ on Firstwatch Dr
PROPERTY TAXES
| Parcel Number | 0151202700 | Improvements Assessment | $2,179,200 |
| Land Assessment | $490,700 | Total Assessment | $2,669,900 |
PROPERTY TAXES
Parcel Number
0151202700
Land Assessment
$490,700
Improvements Assessment
$2,179,200
Total Assessment
$2,669,900
1 of 7
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
