Crossroad Corner Shops

Retail-Commercial for Sale
Sale Pending/Contingent
Catylist Listing ID: 30762479
Property Subtypes: Mixed Use
Status: Pending/Contingent
Building Size (RSF): 29,000 SF
Gross Building Area: See Agent
Gross Land Area: 5.09 Acres
Sale Price: $4,500,000
Unit Price: $155.17 PSF
Property Use Type: Investment
Building Name: Crossroad Corner Shops
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 4/15/2022

Overview / Comments

Located in beautiful "downtown" North Garden, VA on the corner of US 29 and Plank Rd. The Crossroad Corner Shops provide a touch of neighborhood convenience surrounded by vast stretches of gorgeous agricultural land. The intersection on which it sits has supported businesses since 1820 and currently boasts traffic numbers of 16,000 vehicles per day. Designed to serve the community, the shopping center contains, restaurants, a convenience store with gas station, medical offices, a bank, and numerous offices.
The property is improved with over 29,000 square feet of rental space and 193 parking spaces. Additionally, there is a private water system and a private sewage treatment plant.
There are eleven different tenants in place occupying 21,922 sf at an average rent of $16.69sf.There are currently four vacancies totaling 7,150 sf being offered at an average of $12.54sf.

Attachments & Media

Current Tenants

Tenant Notes There are currently ten tenants in place occupying 20,449 sf at an average rent of $16.69 sf plus CAM. There are currently four vacancies totaling 8,623 sf being offered at an average of $13.06 sf.

Additional Details

Nearest MSA: Charlottesville
County: Albemarle
Taxing Authority: Albemarle County
Tax ID/APN: Map 99, parcels 1, 1A, 2, 2A, and 5
Zoning: C1
Property Visibility: Excellent
Largest Nearby Street: US 29
Traffic/Vehicle Count: 16,000
Highway Access: Entrances off Plank Rd. and the northbound lane of US 29.
Site Description: Well maintained neighborhood shopping/office center.
Area Description: Largely rural location which would be hard to replicate in Albemarle County's current planning and zoning environment.
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 2
Property Condition: Excellent
Year Built: 1994
Year Renovated: 2007
Total Parking Spaces: 193
Parking Type: Surface
Sprinklers: None
Zoning Description: C1
Water Service: Well
Sewer Type: Other
Legal Description: 5.09 acres, more or less, located on the corner of US 29 and Plank Road .Further described as Albemarle County Tax Map 99, parcels 1, 1A, 2, 2A, and 5.

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 2,621 5,119
Median Age: 44.21 42.89
Households: 1,012 1,969


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