1571-1587 N Main St
Marion, VA 24354
Retail Property For Sale

Marion Plaza is a 121,700-square-foot community retail center that is anchored by Tractor Supply, Ollie’s Bargain Outlet, and Dollar Tree. The center features a diverse mix of retail, medical, service, and restaurant tenants. It is located along Lee Highway (US-11), with additional visibility from Interstate 81. The center is close to a Walmart and within one mile of three schools that serve a total of 1,500 students. More than 30,000 vehicles pass through the center daily. This makes Marion Plaza the area’s busy community hub and retail destination. Tractor Supply renewed for 10 more years at a low $2.50 per square foot annual NNN rent, with rent increases every five years. Mindbridge Mental Health & Wellness, a successful practice moved from their old location to occupy the space vacated by the VA Clinic at $14 per square foot NNN annual rent. The Sounds Hearing Center renewed with 3% annual increases in rent. Dollar Tree renewed for 5 more years in Q2 2025 and Ollie's also for 5 more years in Q4 2024. Virginia Department of Motor Vehicles (DMV) has been at the center since 1996 and has renewed for until 2033. United States Geological Survey (USGS) has been at the center since 2012 and has extended their lease until 2032. Currently USGS is spending on a major renovation. All the action from the tenants speak volumes about the viability of this location. Low rent, converting some gross leases to net leases and developing already subdivided one acre outparcel presents a promising upside.