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Fully Occupied Shops to Target- NNN Leases Shops to Spradlin Farms 128,562 SF 68% Leased Retail Building Christiansburg, VA 24073 $5,932,660 CAD ($46.15 CAD/SF) 6% Cap Rate

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INVESTMENT HIGHLIGHTS

  • 100% Occupied Multi-Tenant NNN Class A Property - Synergistic Mix Essential National/Regional Tenants
  • Proven Essential Retailers - Recent 2020 Lease Executions - Staggered Lease Terms/Below Market Rents
  • Pride of Ownership Brick Construction - Excellent Inflation Hedge with Rent Bumps - Huge Traffic Flows
  • High Profile Shops to Super Target - Spradlin Farms Power Center (181K SF) - Home Depot/TJ Maxx/Petco
  • Affluent Suburb Outside of Roanoke with Strong Demo’s ($83,889 HHI) - New River Valley’s Retail Hub
  • Positioned with all Major Retail (New River Valley Mall/Walmart/Lowes) - Near Virginia Tech University •

EXECUTIVE SUMMARY

We are pleased to offer to qualified investors an opportunity to acquire a 100% occupied, multi-tenant retail asset (Spradlin Farms Shops) that is fully leased to national tenants in the main retail trade cohort of Christiansburg, VA. The subject property is a 13,955 square foot freestanding retail building that is situated on a 1.82 acre lot directly adjacent to Target and is a part of the 181,055 SF Spradlin Farms regional shopping center anchored by T.J. Maxx, Michaels, Petco, Barnes & Nobles, Big Lots and shadow Anchored by Target and The Home Depot. Located just 6 miles from Virginia Tech, the subject property benefits from its proximity to the university which has over 37,000 students enrolled as well as its proximity to major regional thoroughfares such as Highway 460 and Interstate 81. Additionally, this retail trade area serves as the dominant shopping center destination for a 25+ mile radius as it is the largest retail trade cohort outside of Roanoke, VA. This is a rare opportunity to acquire an exceptionally well located, 100% occupied retail asset on a large 1.82 acre lot, with fixed rental increases, near one of the most recognized and well attended university’s in the U.S.

PROPERTY FACTS

Sale Type
Investment NNN
Property Type
Retail
Building Size
128,562 SF
Building Class
C
Year Built
2000
Price
$5,932,660 CAD
Price Per SF
$46.15 CAD
Cap Rate
6%
NOI
$355,708 CAD
Percent Leased
68%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.21
Lot Size
13.88 AC
Zoning
B-3
Parking
2,275 Spaces (17.7 Spaces per 1,000 SF Leased)

AMENITIES

  • Pylon Sign

SPACE AVAILABILITY

  • SPACE
  • SIZE
  • SPACE USE
  • POSITION
  • AVAILABLE
  • 103
  • 1,555 SF
  • Retail
  • End Cap
  • Now

Suite 103 is a compact, efficient space perfect for boutique retail, specialty services, or local businesses seeking a presence in a high-traffic regional center. With close proximity to anchors like Petco and Rack Room Shoes, this suite benefits from steady foot traffic and a built-in customer base. The location’s accessibility from North Franklin Street and US Route 460 ensures visibility and convenience for both local residents and university students.

  • 130
  • 35,000 SF
  • Retail
  • In-Line
  • Now

Positioned at the heart of Spradlin Farms, Suite 130 offers a commanding presence with expansive frontage and high visibility along North Franklin Street. This large-format space is ideal for a destination retailer seeking to capitalize on the center’s robust foot traffic and proximity to major anchors including T.J. Maxx, Barnes & Noble, and Michaels. With easy access from US Route 460 and a location just minutes from Virginia Tech and Radford University, this suite is primed for high-volume customer engagement. The space benefits from ample parking, strong co-tenancy, and a well-established retail environment managed by Big V Property Group.

  • 135
  • 4,800 SF
  • Retail
  • In-Line
  • Now

Suite 135 presents a versatile opportunity for retailers or service providers seeking a well-positioned inline space within a thriving regional shopping center. Located near major anchors and adjacent to high-performing tenants, this space benefits from consistent foot traffic and excellent visibility. The suite is well-suited for boutique retail, health and wellness, or quick-service concepts. With proximity to Virginia Tech and Radford University, the location offers access to a young, affluent demographic and a steady stream of visitors.

Space Size Space Use Position Available
103 1,555 SF Retail End Cap Now
130 35,000 SF Retail In-Line Now
135 4,800 SF Retail In-Line Now

103

Size
1,555 SF
Space Use
Retail
Position
End Cap
Available
Now

130

Size
35,000 SF
Space Use
Retail
Position
In-Line
Available
Now

135

Size
4,800 SF
Space Use
Retail
Position
In-Line
Available
Now

103

Size 1,555 SF
Space Use Retail
Position End Cap
Available Now

Suite 103 is a compact, efficient space perfect for boutique retail, specialty services, or local businesses seeking a presence in a high-traffic regional center. With close proximity to anchors like Petco and Rack Room Shoes, this suite benefits from steady foot traffic and a built-in customer base. The location’s accessibility from North Franklin Street and US Route 460 ensures visibility and convenience for both local residents and university students.

130

Size 35,000 SF
Space Use Retail
Position In-Line
Available Now

Positioned at the heart of Spradlin Farms, Suite 130 offers a commanding presence with expansive frontage and high visibility along North Franklin Street. This large-format space is ideal for a destination retailer seeking to capitalize on the center’s robust foot traffic and proximity to major anchors including T.J. Maxx, Barnes & Noble, and Michaels. With easy access from US Route 460 and a location just minutes from Virginia Tech and Radford University, this suite is primed for high-volume customer engagement. The space benefits from ample parking, strong co-tenancy, and a well-established retail environment managed by Big V Property Group.

135

Size 4,800 SF
Space Use Retail
Position In-Line
Available Now

Suite 135 presents a versatile opportunity for retailers or service providers seeking a well-positioned inline space within a thriving regional shopping center. Located near major anchors and adjacent to high-performing tenants, this space benefits from consistent foot traffic and excellent visibility. The suite is well-suited for boutique retail, health and wellness, or quick-service concepts. With proximity to Virginia Tech and Radford University, the location offers access to a young, affluent demographic and a steady stream of visitors.

NEARBY MAJOR RETAILERS

Woodforest National Bank
Truist
Texas Roadhouse
Red Robin
Red Lobster
IHOP
Noodles & Company
Mission BBQ
Chicken Salad Chick
Outback Steakhouse

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
035290
Land Assessment
$10,229,288 CAD
Improvements Assessment
$16,450,508 CAD
Total Assessment
$26,679,797 CAD
  • Listing ID: 23854615

  • Date on Market: 2021-08-06

  • Last Updated:

  • Address: Shops to Spradlin Farms, Christiansburg, VA 24073

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