| INVESTMENT HIGHLIGHTS: |
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Established Anchor Tenant – Food Lion (Delhaize), has a 19% marketshare in Virginia, the 2nd largest in the state and 327 stores in Virginia, most of any supermarket in the state.
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Dense Submarket with Excellent Demographics – subject lies within the Roanoke MSA and is experiencing tremendous residential growth. 119,000+/- residents live within a 5-mile radius with an Avg HH income of $59,300+/-. |
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High traffic location – 14,000+/- vehicles on Apperson Dr. between Electric Rd. and Peters Creek Rd. 27,000+/- vehicles on Electric Rd. between Apperson Dr. and Keagy Rd. 24,000+/- vehicles on Electric Rd. between Apperson Dr. and Roanoke Blvd |
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Value – opportunity to acquire stable Sunbelt grocery anchored retail at a discount to replacement cost. |
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| PROPERTY SPECIFICATIONS: |
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Location: |
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1796 Apperson Drive
Salem, VA 24153 |
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Type: |
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Grocery-anchored Neighborhood Center |
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Size: |
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45,580± sq ft GLA
6.71± acres |
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Anchor Tenant: |
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Food Lion |
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Year Built: |
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1988 |
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Stabilized NOI: |
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$292,479 |
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Occupancy: |
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85% |
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Price: |
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$3,500,000 ($76.79 PSF) |
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