77 Main St.

Retail-Commercial for Sale
Catylist Listing ID: 30486155
Property Subtypes: Convenience Store, Mixed Use, Retail-Pad, Other
Building Size (RSF): 5,940 SF
Gross Land Area: 0.33 - 0.38 Acres
Sale Price: $385,000
Unit Price: $64.81 PSF
Ceiling: 12 ft.
Property Use Type: Investment, Business
Building Name: 77 Main St. & Ford Ave - Standardsville, VA
Usable Size (USF): 5,940 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 1/6/2020

Overview / Comments

Investment Opportunity For Sale - Two retail buildings for sale includes one (1) 5000 SF building with 1 large garage with bay door and one (1) 940 SF building; 1 adjoining paved parking lot with approximately 25 spaces.

Total 5940 SF is currently divided into 3 separate retail spaces; 2x 2500 SF spaces and 1x 940 SF space. Both buildings allow for option of FIVE divisible retail spaces.

5000 SF Building = Units 81A & B; Tile floor with 12' ceilings, R-50 roof insulation, firewalls in between each 2500sf, 2 baths including 1 ADA.

940 SF Building = Unit 77; wood floors, stucco over brick, 1 ADA bath.

Unit 81B - (1) 2500 SF retail space available for lease. This 2500 SF open floor plan includes divisible option for 3 smaller retail spaces. *Successful 18yr Hardware Store owner closed shop in summer 2019 to pursue retirement options.

Excellent investment opportunity for another hardware store or similar owner to purchase property for own business and lease remainder spaces.

*Ask about additional mixed use investment opportunity for sale on same block at 57 Main St. Includes a beautiful brick historic residence transformed into a 3 unit apartment with 20 years of documented income. It currently has all 3 units leased. Zoning is listed with the County as residential/commercial. Total lot extends in the back that may be divided per the County with options for development of mixed used, increasing your investment potential. Plenty of off-street parking makes this investment even more desirable! See attached listing info.

Attachments & Media

Financials

Finance Data Year 2019
Tax Value Land $60,100
Tax Value Improvements $273,800
Assessed Value - Total($) $333,900 (Annual)
Potential Rental Income $55,000 (Annual)
Gross Operating Income $31,200 (Annual)
Net Operating Income $26,400 (Annual)

Current Tenants

Tenant Business Name Brown Exterminating Co.
Contact Name Kim and Aaron Brunell
Contact Title Owner
Phone Number 434-985-8279
Toll-Free Number 800-284-2741
Website URL www.brownext.com
Industry Type Other Services
Is Renting? Yes
Employees Total 10
Employees at Location 10
Year Founded 1974
Suite Number 81A
SF of Space Occupied 2,500 SF
Current Rent $24,000 PSF (Annual)
Tenant Notes Call agent for showing.
Tenant Business Name PJ's Treasure's Thrift Shop
Contact Name Penny & Jerry Weakley
Contact Title Owners
Phone Number 540-718-3537
Industry Type Retail Trade
Is Renting? Yes
Suite Number 77
SF of Space Occupied 940 SF
Current Rent $7,200 PSF (Annual)
Tenant Notes Call agent for showing.

Additional Details

Nearest MSA: Charlottesville
County: Greene
Tax ID/APN: 37A-A-23
Zoning: RC-1
Retail Clientele: General, Business, Recreation, Convention, Other
Property Located Between: 77 Main St. & Ford Ave.
Property Visibility: Excellent
Largest Nearby Street: Main St.
Highway Access: 25 miles to I-64 (32 minute drive), 30 miles to I-81 (38 minute drive)
Airports: 16 miles to Charlottesville Airport (24 minute drive), 88 miles to Dulles International Airport (1hr 35 minute drive).
Site Description: Multiple Corner Lots off of Main St. & Ford Ave. in downtown historic Stanardsville.
Area Description: Quaint historic town 6 miles west of Rt. 29N sits approximately 1/2 mile off Rt. 33 and 16 miles to Charlottesville Airport. Minutes to Shenandoah National Park, Wineries, historic Lafayette Restaurant and Lydia Mountain Lodge.
Tenancy: Multiple Tenants
Total Number of Buildings: 2
Number of Stories: 1
Typical SF / Floor: 2,500 SF
Property Condition: Good
Year Built: 1964
Year Renovated: 1999
Roof Type: Domes
Construction/Siding: Block
Exterior Description: Concrete block 5000sf building; & Triple brick 600sf building
Total Parking Spaces: 25
Parking Type: Surface
Parking Description: Paved parking lot suitable for original IGA grocery store.
Sprinklers: None
Heat Type: Electricity, Natural Gas
Heat Source: Heat Pump
Air Conditioning: Package Unit
Internet Access: Cable
Interior Description: 81A & B = Tile floor with 12' ceilings, R-50 roof insulation, firewalls in between each 2500sf, 2 baths. 77 = stucco over brick.
Zoning Description: RC-1. See Attached RC1 zoning description from Greene County.
Water Service: Municipal
Sewer Type: Municipal
Legal Description: Tax Map Reference 37A-A-23 > Main St & Ford Ave .33 acres Tax Map Reference 37A-A-21 > Off Main St. Behind IGA .047acres

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 4,759 8,618
Median Age: 40.39 41.04
Households: 1,724 3,185
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