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Lakewatch Retail Center - Moneta, VA 50-60 Firstwatch Dr 21,360 SF 97% Leased Retail Building Moneta, VA 24121 $3,745,980 CAD ($175.37 CAD/SF) 6.51% Cap Rate
INVESTMENT HIGHLIGHTS
- 40% Below-Market Rents: Significant upside through lease-up, renewals, and re-tenanting.
- Strong Tenant Mix: Includes national brand Domino’s, providing stability and consistent customer draw.
- Growing Retail Corridor: Increasing demand from both yearround residents and peak-season visitors, limited competing supply.
- Affluent Trade Area: AHHI $124,000+, driven by permanent residents, lake-home owners, and retirees.
- Major Vacation Destination: Located at Smith Mountain Lake, one of Virginia’s top recreation markets with strong seasonal traffic.
- Diverse Customer Base: Captures local, second-home, and tourist spending.
EXECUTIVE SUMMARY
We are pleased to exclusively offer for sale the Lakewatch Retail Center at 50–60 Firstwatch Drive, a 21,360 SF property situated in the affluent trade area of Moneta, VA. The center benefits from strong demographics, including average household incomes above $124,000 and a steady customer base of full-time residents, lake-home owners, and retirees. Anchored by a reliable tenant mix of national and local brands, including Domino’s, the property maintains consistent traffic and stability. Additionally, the asset presents a compelling value-add opportunity, with current rents significantly below market and substantial upside available through lease-up, renewals, and strategic re-tenanting.
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
Building Size
21,360 SF
Building Class
B
Year Built
2008
Price
$3,745,980 CAD
Price Per SF
$175.37 CAD
Cap Rate
6.51%
NOI
$243,809 CAD
Percent Leased
97%
Tenancy
Multiple
Building Height
1 Story
Loading Docks
6 Exterior
Building FAR
0.13
Lot Size
3.75 AC
Zoning
PCD - Planned Commercial Development, allowing flexible mixed-use and many B-2 commercial uses.
Parking
101 Spaces (4.73 Spaces per 1,000 SF Leased)
Frontage
500’ on Firstwatch Dr
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE END
- Body4U
- Services
- 1,298 SF
- $12.51 CAD
- Sep 2026
- City Electric Supply
- Retailer
- 5,629 SF
- $36.63 CAD
- Mar 2026
- Cooper Kettle Restaurent
- Accommodation and Food Services
- 5,629 SF
- $12.15 CAD
- Dec 2029
- Domino's Pizza
- Accommodation and Food Services
- 2,958 SF
- $11.45 CAD
- Sep 2027
- Farmhouse
- Accommodation and Food Services
- 3,780 SF
- $9.73 CAD
- May 2027
- Westlake
- Retailer
- 1,500 SF
- $15.29 CAD
- Apr 2030
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE END | ||
| Body4U | Services | 1,298 SF | $12.51 CAD | Sep 2026 | ||
| City Electric Supply | Retailer | 5,629 SF | $36.63 CAD | Mar 2026 | ||
| Cooper Kettle Restaurent | Accommodation and Food Services | 5,629 SF | $12.15 CAD | Dec 2029 | ||
| Domino's Pizza | Accommodation and Food Services | 2,958 SF | $11.45 CAD | Sep 2027 | ||
| Farmhouse | Accommodation and Food Services | 3,780 SF | $9.73 CAD | May 2027 | ||
| Westlake | Retailer | 1,500 SF | $15.29 CAD | Apr 2030 |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 0151202700 | Improvements Assessment | $3,032,357 CAD |
| Land Assessment | $682,809 CAD | Total Assessment | $3,715,166 CAD |
PROPERTY TAXES
Parcel Number
0151202700
Land Assessment
$682,809 CAD
Improvements Assessment
$3,032,357 CAD
Total Assessment
$3,715,166 CAD
CONTACTS
-
Jack Levine -
Grant Mogerman -
Alexandra Anttila -
Thomas Gorman -
Sands Investment Group
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Lakewatch Retail Center - Moneta, VA | 50-60 Firstwatch Dr
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