Triangle Shopping Center | 175-201 Old Courthouse Rd
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Triangle Shopping Center 175-201 Old Courthouse Rd
79,000 SF 100% Leased Retail Building Appomattox, VA 24522 $3,200,000 ($41/SF) 3.17% Cap Rate
Investment Highlights
- Roadside pylon sign for increased exposure
- Over 16,000 vehicles pass daily
- 9.65 acres (8.535 acres with retail building + 1.115 acres undeveloped)
- Prime Location
- High Visibility
Executive Summary
This offering consists of two tax parcels: An 8.535-acre parcel including a retail building of 79,000 SF, a second undeveloped parcel, which is 1.115 acres in total, 9.65 acres. The building is approximately 95% occupied by various tenants who have historically renewed their multi-year lease terms. This creates the opportunity to re-tenant or convert these gross leases to standard market leases. Converting Gross Leases to NNN, from useable square feet to rentable square feet, with longer lease terms. The property is at the corner of the four-way intersection on Oakville Road and Old Courthouse Road. It has a roadside pylon sign. The property is zoned B2, which permits all commercial uses that benefit the neighborhood except for industrial. 16,000+ vehicles pass this location each day.
Data Room Click Here to Access
- Offering Memorandum
Financial Summary (Pro forma - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro forma - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
79,000 SF
Building Class
C
Year Built
1970
Price
$3,200,000
Price Per SF
$41
Cap Rate
3.17%
NOI
$101,301
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Loading Docks
1 Exterior
Building FAR
0.16
Lot Size
11.00 AC
Opportunity Zone
Yes
Zoning
B2 - The property is zoned B2 which permits all commercial uses that benefit the neighborhood except for industrial.
Parking
420 Spaces (5.32 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Corner Lot
- Freeway Visibility
- Pylon Sign
- Storage Space
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 64A2( A) 31 | Total Assessment | $1,208,700 |
| Land Assessment | $910,200 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $298,500 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
64A2( A) 31
Land Assessment
$910,200
Improvements Assessment
$298,500
Total Assessment
$1,208,700
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
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Triangle Shopping Center | 175-201 Old Courthouse Rd
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