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Martinsville, VA - Southside Plaza (Food Lion)
2828 Greensboro Road | Martinsville, VA 24112
$2,447,000
Price9%
Cap Rate$220,265
NOI44,864
± SF Offering GLA6.19
± AC Land AreaInvestment Highlights
SRS Investment Properties Group is pleased to present the rare opportunity to acquire Southside Plaza, a 44,864 SF, 89% occupied, grocery anchored, shopping center located in Martinsville, VA. Southside Plaza is well-positioned within the trade area and is anchored by Food Lion. The Food Lion has been at this location since 1988 and recently exercised their third option period, demonstrating their commitment to the site. Additionally, this particular Food Lion has strong sales and a healthy rent-to-sales ratio (contact agent for more details). Southside Plaza also features potential upside through lease up.
Location
The shopping center is located along Greensboro Road / US Highway 200 (18,000 vehicles per day) with excellent visibility. Southside Plaza is adjacent to a shopping center anchored by Planet Fitness, Big Lots, Dollar Tree, and Dollar General, generating crossover traffic and providing excellent tenant synergy. Nearby tenants include CVS, Walgreens, McDonald’s, Aaron’s, and more, which increases consumer draw to the subject trade area. Furthermore, Southside Plaza is 2 miles away from Martinsville Speedway, which hosts race events with large crowds throughout the year. As the nearest grocery anchored center to the speedway, the subject property is poised to capture demand from these large crowds. Within 5 miles of the subject property, nearly 31,000 residents ($47,000 average household income) and over 18,000 employees support the trade area.
Contact
Matthew Mousavi
Sr Managing Principal & Co-Head of National Net Lease
949.698.1116949.698.1116[email protected]CA #: 01732226
Patrick Luther, CCIM
Sr Managing Principal & Co-Head of National Net Lease
949.698.1115949.698.1115[email protected]CA #: 01912215