Absolute Auction - Vacant Big-Box Retail | 539 Valley Dr
This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
thank you
Your email has been sent!
Absolute Auction - Vacant Big-Box Retail 539 Valley Dr
Vacant Retail Building Online Auction Sale Oceana, WV 24870
You have won the auction!
Please check your email for next steps from the Contracts & Closing Team.
The bid amount you entered is less than the next minimum bid amount, please try again
Confirm your bid amount of
{{Auction.BidAmount}}
Investment Highlights
- 539 Valley Drive presents an immense opportunity to acquire a 79,879-square-foot retail property in Oceana, West Virginia.
- Immense value-add potential through the lease-up of the asset or through owner/usership.
- Prime location fronting Valley Drive, the area's primary commercial thoroughfare that sees over 5,000 vehicles per day.
- Within an anchored shopping center that features daily needs stores such as Family Dollar and Goodson's Supermarket.
- Offered to the market via an absolute auction and the first bid will meet the reserve.
Executive Summary
539 Valley Drive presents the market with a rare opportunity to acquire a flexible retail asset within a critical shopping center within Oceana, West Virginia. The building, which is currently vacant, is being offered to the market via an absolute auction. The first bid will meet the reserve, presenting the new owner with immense value-add upside through a strategic lease-up or owner/usership plan to maximize the retail space. The building totals 79,879 square feet of interior retail space and can accommodate a big-box store or could easily be subdivided to fit two large-footprint tenants. This offering includes four parcels totaling 4.5 acres with 200 surface parking spots, more than enough to meet a store's needs even at full capacity.
539 Valley Drive is in a premier location within the Oceana area. The building rests within a market-dominant retail center that serves as the centralized retail hub for the surrounding residential areas. The other tenants at this shopping center include Family Dollar, Rent-A-Center, Pizza Hut, and Goodson's Supermarket. Family Dollar and Goodson's serve as strong shadow-anchoring tenants that provide a constant stream of daily needs traffic to the immediate vicinity. Valley Drive provides over 5,000 vehicles passing by daily, creating a robust need for retail and a prominent signage opportunity. Meanwhile, the 10-mile radius demographics include a population of over 15,000 people who earn $60,000 a year per household. Overall, this population spent $147 million over the past 12 months, creating a large market that new ownership can tap into.
Do not miss the opportunity to acquire this market-dominant retail asset, which is being offered to the market via an absolute auction.
Property tours are available by appointment only. Please contact the broker to schedule.
539 Valley Drive is in a premier location within the Oceana area. The building rests within a market-dominant retail center that serves as the centralized retail hub for the surrounding residential areas. The other tenants at this shopping center include Family Dollar, Rent-A-Center, Pizza Hut, and Goodson's Supermarket. Family Dollar and Goodson's serve as strong shadow-anchoring tenants that provide a constant stream of daily needs traffic to the immediate vicinity. Valley Drive provides over 5,000 vehicles passing by daily, creating a robust need for retail and a prominent signage opportunity. Meanwhile, the 10-mile radius demographics include a population of over 15,000 people who earn $60,000 a year per household. Overall, this population spent $147 million over the past 12 months, creating a large market that new ownership can tap into.
Do not miss the opportunity to acquire this market-dominant retail asset, which is being offered to the market via an absolute auction.
Property tours are available by appointment only. Please contact the broker to schedule.
Data Room Click Here to Access
- Purchase Agreement
- Miscellaneous
- Title & Insurance
Property Facts
Sale Type
Investment
Sale Condition
Auction Sale
Property Type
Retail
Property Subtype
Storefront
Building Class
C
Year Built
1985
Percent Leased
Vacant
Tenancy
Multiple
Building Height
1 Story
Lot Size
4.50 AC
Zoning
PUD - General Commercial
Parking
200 Spaces (2.62 Spaces per 1,000 SF Leased)
Frontage
327 FT on Valley Drive
Amenities
- Storage Space
- Air Conditioning
Space Availability
- Space
- Size
- Space Use
- Position
- Available
- 1st Floor
- 79,879 SF
- Retail
- -
- Now
| Space | Size | Space Use | Position | Available |
| 1st Floor | 79,879 SF | Retail | - | Now |
1st Floor
| Size |
| 79,879 SF |
| Space Use |
| Retail |
| Position |
| - |
| Available |
| Now |
DEMOGRAPHICS
Demographics
1 Mile
3 Mile
5 Mile
2024 Population
756
1,853
4,761
2020 Population
681
1,906
5,198
2029 Population
745
1,779
4,513
2024-2029 Projected Population Growth
-1.5%
-4.0%
-5.2%
Daytime Employees
666
968
1,209
Total Businesses
92
123
161
Average Household Income
$48,256
$55,497
$60,170
Median Household Income
$29,166
$46,562
$48,444
Total Consumer Spending
$7.4M
$19.5M
$50.2M
Median Age
45.3
45.7
45.2
2024 Households
310
760
1,907
Percent College Degree or Above
8%
11%
8%
Average Home Value
$71,245
$96,989
$108,562
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $614,520 | |
| Land Assessment | $82,350 | Total Assessment | $696,870 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$82,350
Improvements Assessment
$614,520
Total Assessment
$696,870
Sale Advisor
Sale Advisor
Quintie Smith, Member/Owner-Associate Broker
(304) 840-1781
Contact
Seventh-generation Charlestonian Quintie Smith has had a long pedigree in real estate. His family owns the Kanawha Roxalana Company – a one-hundred-year-old Real Estate Company in Charleston, WV and he was a top residential broker in Myrtle Beach, SC for ten years after a twenty-year career in the securities business. Mr. Smith participates in all phases of real estate transactions. Sales and leasing are his principal focus – he has a sophisticated network of buyers and dozens of prospective lessees. He is a former Board Member of the Charleston Civic Center, the EHS Alumni Board, and founding director of Capitol State Bank. Mr. Smith is the former Chairman of the EHS Sports Hall of Fame and the principal fundraiser for the Hot Rod Hundley statue at West Virginia University. He also was a delegate to the GOP National Committee in 2016. A graduate of Episcopal High School and Princeton University, Mr. Smith played football and participated in track at both institutions.
About the Auction Platform
Ten-X Commercial is the leading end-to-end digital transaction platform for commercial real estate. With over $26bn sold, Ten-X’s platform empowers brokers, sellers and buyers with data-driven technology and comprehensive marketing tools to expand market visibility and decrease time to close. Ten-X consistently yields trade rates at two times the industry average. Ten-X expedites the entire CRE transaction timeline by enabling brokers and sellers to tap into a digital platform that makes it easy to onboard properties, evaluate the success of complimentary omnichannel marketing campaigns and follow up on the strongest pre-qualified leads. Buyers are precision-matched with properties aligned with their investment goals, with unprecedented access to market analysis and due diligence documents to help them securely acquire properties online, with confidence.
Read More
Auction Contact
Emily Walper
Contact
Auctioneer License:
Ten-X Arlene Richardson RE Brkr WVB210300753 Ten-X, LLC Auction Firm Arlene Richardson Auctioneer 2446
-
Quintie Smith -
Realcorp, LLC
1 of 66
VIDEOS
3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
Transaction Fee Schedule
Based on Percentage of Winning Bid Amount.
Winning Bid Amount
Transaction Fee
$0m to < $1m
5.00% ($20,000 min)
$1m to < $3m
3.00%
$3m to < $5m
2.50%
$5m to < $10m
2.25%
$10m to < $15m
2.00%
$15m to < $25m
1.75%
$25m to < $35m
1.50%
$35M to < $45M
1.00%
$45M to < $55M
0.75%
$55M and Up
0.50%
Example Calculation
Winning Bid Amount
$4,000,000
Transaction Fee
$100,000 (2.5%)
Total Purchase Price
$4,100,000
Presented by
Absolute Auction - Vacant Big-Box Retail | 539 Valley Dr
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.
Presented by
Absolute Auction - Vacant Big-Box Retail | 539 Valley Dr
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.