Stabilized Regional Shopping Center with Developable Outparcel included- National Credit Tenants

1571 N Main Street
Marion, VA 24354
Price $7,108,624
Cap Rate 8.00%
NOI $568,690

For More Information

Spencer O’Donnell
714-400-6267

Property Description

  • Anchor-Tenant Stability – 96% occupied retail center featuring Tractor Supply Co., Ollie’s Bargain Outlet, and Dollar Tree, on long-term corporate leases with additional national, state, and medical tenants ensuring income reliability.

  • Recent Lease Extensions (WALT of 5.4 Years) – Long-term renewals executed by Tractor Supply, Ollie’s, Dollar Tree, USGS, and the Virginia DMV, reinforcing tenant commitment and minimizing rollover risk.

  • Attractive Assumable Debt – Below-market 5.7982% fixed interest rate available for assumption, with 3.3 years remaining and a 55.5% LTV, allowing for enhanced cash-on-cash returns day one.

  • Prime Location & Visibility – Direct frontage on Lee Highway (US-11) and visibility from Interstate 81 (30,000 VPD), adjacent to Walmart Supercenter – driving daily traffic and regional draw.

  • Recent Capital Improvements – Upgrades to parking lot, HVAC systems, and exterior painting, with 7 years remaining on Ollie’s roof warranty– Enterprise Zone Location (Qualifies for State Funds for CapEx).

  • Regional Economic Stability – Marion serves as the county seat and commercial center for Smyth County, with core employment from healthcare, government, education, and manufacturing.

  • Fee Simple Ownership with Long-Term Upside – Full ownership of land and improvements provides control and value stability, with upside through contractual rent escalations, stable tenancy, and low anticipated capital expenditures.

  • Adjacent to Smyth County Community Hospital – Next to Emory & Henry University Health Sciences Campus

Area Demographics

Radius
Population
Median HH Income
Average HH Income
5 miles
10,477
$44,770
$68,907
10 miles
19,644
$45,014
$68,488
20 miles
58,421
$52,326
$72,462