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Richlands Towne Center - Richlands, VA 2000 2nd St 37,800 SF Retail Building Richlands, VA 24641 $3,486,175 CAD ($92.23 CAD/SF) 8.04% Cap Rate
Investment Highlights
- Anchored by Advance Auto Parts, the center features a strong mix of national and local tenants, providing stable and diversified income.
- Strategically located in the heart of Richlands, VA, the property sits along the town’s main retail corridor.
- Top-performing Advance Auto Parts location, ranking in the 78th percentile nationwide and 62nd percentile within Virginia (Placer.ai).
- Two current vacancies offer a clear value-add opportunity through lease-up, allowing an investor to increase NOI and drive overall property value.
- Offered at an attractive basis below replacement cost, presenting investors with a compelling entry point at approximately $66.14 PSF.
Executive Summary
Sands Investment Group is pleased to exclusively offer for sale the 37,800 SF Richlands Towne Center located at 2000 - 2010 2nd Street in Richlands, VA. This retail center presents a compelling investment opportunity with two current vacancies, offering clear value-add potential through lease-up. By stabilizing the remaining space, an investor has the ability to increase NOI and enhance overall property value, making this an attractive opportunity for investors seeking both immediate income and future upside through strategic leasing.
In Cooperation With Sands Investment Group, Inc - Lic. ##0226037527 BoR: Tom Gorman - Lic. VA #0225269275
In Cooperation With Sands Investment Group, Inc - Lic. ##0226037527 BoR: Tom Gorman - Lic. VA #0225269275
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
37,800 SF
Building Class
B
Year Built
1980
Price
$3,486,175 CAD
Price Per SF
$92.23 CAD
Cap Rate
8.04%
NOI
$280,438 CAD
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.24
Lot Size
3.63 AC
Amenities
- Signage
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
- Advance Auto parts
- Retailer
- 16,800 SF
- $6.97 CAD
- -
- Rent A Center
- Retailer
- 7,000 SF
- $8.62 CAD
- -
- Town Center Laudromat
- Retailer
- 5,000 SF
- $8.37 CAD
- -
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
| Advance Auto parts | Retailer | 16,800 SF | $6.97 CAD | - | ||
| Rent A Center | Retailer | 7,000 SF | $8.62 CAD | - | ||
| Town Center Laudromat | Retailer | 5,000 SF | $8.37 CAD | - |
Fairly walkable
40/100
Very drivable
80/100
Somewhat bikeable
20/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 105A5A-0016 | Improvements Assessment | $2,076,366 CAD |
| Land Assessment | $501,451 CAD | Total Assessment | $2,577,817 CAD |
Property Taxes
Parcel Number
105A5A-0016
Land Assessment
$501,451 CAD
Improvements Assessment
$2,076,366 CAD
Total Assessment
$2,577,817 CAD
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Richlands Towne Center - Richlands, VA | 2000 2nd St
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