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Investment Highlights

  • Tractor Supply renewed for 10-Years in Q4 2025 @ $2.50 PSF with rent increases every 5-Years
  • Dollar Tree renewed for 5-Years in Q2 2025 and Ollie's for 5-Years in Q4 2024
  • Already subdivided 1 acre Out Parcel development / Conversion of select Gross Leases to Triple Net
  • DMV, at the center since 1996 with lease until 2033 &USGS-since 2012 at the center with lease until 2032
  • With the assumption of the existing loan (optional), the return on equity is 13.5% /Well Below Replacement Cost
  • Positioned on a high-traffic corridor that includes Wal-Mart, Food City, and Food Lion

Executive Summary

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.

Property Facts

Sale Type
Investment
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Storefront
Building Size
121,706 SF
Building Class
B
Year Built/Renovated
1971/2017
Price
$8,974,805 CAD
Price Per SF
$73.74 CAD
Cap Rate
9%
NOI
$807,732 CAD
Percent Leased
99%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.23
Lot Size
12.27 AC

Major Tenants

  • Tenant
  • Industry
  • SF Occupied
  • Rent/SF
  • Lease Type
  • Lease End
  • Retailer
  • -
  • $13.00 CAD
  • Triple Net
  • Jul 2030

Dollar Tree started when Macon Brock, Doug Perry, and Ray Compton opened the first only dollar store in Georgia. The company expanded rapidly through the 1990s, acquiring competitors like Dollar Bill and Clearance Centers. In 2015, Dollar Tree merged with Family Dollar, creating a retail giant with thousands of locations across North America. Today, the company operates both Dollar Tree and Family Dollar stores that sell everything from household goods to frozen foods. Dollar Tree emphasizes value and convenience in all its product offerings.

  • Accommodation and Food Services
  • -
  • $11.62 CAD
  • Triple Net
  • May 2030

Domino’s began in 1960 as a single pizza store in Ypsilanti, Michigan, and grew from that origin into a major global pizza brand. The company focuses on making, baking, and delivering pizza through a franchise-driven model that supports household customers in the U.S. and international markets. Domino’s business also includes menu development and store design, with a history of expanding its pizza offerings and related food items over time.

  • Retailer
  • -
  • $6.85 CAD
  • Triple Net
  • Nov 2029

Ollie’s Bargain Outlet began in Mechanicsburg, Pennsylvania, in 1982 and was built around a closeout-retail model that buys excess inventory and sells brand-name goods at discounted prices. The company describes its business as offering “Good Stuff Cheap” through a changing assortment of merchandise and bargain-oriented store layouts. Its product mix spans household goods, food, books, stationery, bed and bath items, floor coverings, electronics, and toys. Ollie’s Bargain Outlet operates exclusively in the United States and continues to focus on closeout and overstock opportunities across its retail business.

Tenant Industry SF Occupied Rent/SF Lease Type Lease End
Retailer - $13.00 CAD Triple Net Jul 2030
Accommodation and Food Services - $11.62 CAD Triple Net May 2030
Retailer - $6.85 CAD Triple Net Nov 2029

Space Availability

  • Space
  • Size
  • Space Use
  • Position
  • Available
  • 1577-C
  • 1,744 SF
  • Retail
  • In-Line
  • Now
Space Size Space Use Position Available
1577-C 1,744 SF Retail In-Line Now

1577-C

Size
1,744 SF
Space Use
Retail
Position
In-Line
Available
Now
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Somewhat bikeable
20/100

Nearby Major Retailers

First Community Bank
Starbucks
Ingles Markets
Food Lion
Food City
Anytime Fitness

Property Taxes

Property Taxes

Parcel Numbers
Multiple
  • 154-158-B
  • 154-158-C
  • 154-158-D
Land Assessment
$1,629,818 CAD
Improvements Assessment
$6,423,803 CAD
Total Assessment
$8,053,621 CAD
  • Listing ID: 39677899

  • Date on Market: 2026-03-05

  • Last Updated:

  • Address: 1571-1587 N Main St, Marion, VA 24354

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