7310 Peppers Ferry Blvd
Fairlawn, VA 24141
Retail Property For Sale

Fortis Net Lease is pleased to present the opportunity to acquire the Peppers Ferry Shopping Center, a 100% occupied, five-unit retail property located along Route 114 in Fairlawn, Virginia. Totaling 18,601 square feet, the center combines stable in-place cash flow with immediate and long-term value creation potential through strategic lease-up,
rent resets, and redevelopment.
The property has been well maintained, with more than $36,000 invested in roof repairs in 2024, ensuring minimal near-term capital expenditures for a new owner. While the property currently produces a total annual rent of $106,435 (or just $5.72 per SF), this figure is significantly below market for comparable retail in the Radford/Fairlawn trade area. This creates a compelling opportunity to acquire a stabilized asset at an attractive basis, with strong upside upon lease rollover or re-tenanting.
The center features a diverse tenant roster anchored by Flowers Baking Co. of Jamestown, LLC, a publicly traded, investment-grade operator with a long-standing presence at the property. Additional tenants include Dublin Pawn, Iron for Zion, Tobacco Hut, and a garage tenant operating on a month-to-month lease. Several tenants are paying dramatically below-market rents, including Iron for Zion at just $4.15 per SF and the garage tenant at only $0.78 per SF — providing significant room to increase NOI upon renewal or replacement.
Near-term expirations further enhance the value-add profile. Leases for Iron for Zion and Dublin Pawn both expire in March 2026, while the garage tenant is already on a
holdover basis. This creates flexibility for a new owner to either renew at market rents, reposition the space for higher and better use, or redevelop portions of the center to attract stronger tenants and drive future appreciation.
Also, in-place cash flow provides immediate stability, anchored by Flowers Baking Co. through September 2026 and Tobacco Hut through July 2028. These tenants generate more than one-third of the current rental income, balancing redevelopment flexibility with secure national and regional tenancy