Barnes & Noble Lynchburg,Virginia

$5,017,600
Property type:Single-Tenant Net Lease

The space

  • Listing Price: $5,017,600
  • NOI: $351,232
  • Cap Rate: 7.00%
  • Lease Type: Triple Net (NNN)
  • Guarantor: Corporate Guarantee
  • Rentable Square Feet: 23,318
  • Lot Size: 2.67 Acres
  • Year Built: 2000

Description

4024 Wards Road
Lynchburg, Virginia 24502

Investment Highlights

  • Walking Distance from Liberty University, the Largest University in the State of Virginia With Over 110,000 Students, Over 30,000 of Which are Military Students
  • Long-Term, Triple Net (NNN) Lease, Recently Extended at the Full Option Rental Rate With a 12 Percent Rent Increase
  • Tenant Has Been in Place Since 2001
  • Part of Wards Crossing Shopping Center; Tenants Include Target, Michael’s, Best Buy, Lane Bryant, PetSmart, The UPS Store, Bed Bath & Beyond, Rack Room Shoes, Blaze Pizza and Five Guys – Among Others!
  • One Mile from Central Virginia Community College With an Enrollment of Nearly 4,000 Students and 234 Faculty and Staff
  • Located on Wards Road With a Daily Traffic Count of More Than 40,000 Vehicles and Off Richmond Highway With 52,000 Vehicles Per Day, and Lynchburg Expressway With 46,000 Vehicles Daily
  • 1.5 Miles from River Ridge Mall, Anchored by JCPenney, T.J. Maxx, Dick’s Sporting Goods, Belk and Regal River Ridge Movie Theater
  • Other Surrounding National Retailers Include Walmart Supercenter, Sam’s Club, Kohl’s, Staples, CarMax, Kroger, Ross, Five Below, Old Navy, Burlington, Party City, Cato Fashions, Dollar Tree, Applebee’s, Texas Roadhouse, Starbucks, McDonald’s, Chick-fil-A, Chipotle, Buffalo Wild Wings and Many More

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a Barnes & Noble located in Lynchburg, VA. This Barnes & Noble offers a long-term, triple net (NNN) lease recently extended at the full option rental rate with a 12 percent rent increase.

The subject property is within walking distance from Liberty University, the largest university in the state of Virginia with over 110,000 students, over 30,000 of which are military students and is also just one mile from Central Virginia Community College with an enrollment of nearly 4,000 students and 234 faculty and staff.

The Barnes & Noble has been in place since 2001 and is a part of Wards Crossing Shopping Center with tenants including Target, Michael’s, Best Buy, Lane Bryant, PetSmart, The UPS Store, Bed Bath & Beyond, Rack Room Shoes, Blaze Pizza and Five Guys – among others. Other surrounding national retailers include Walmart Supercenter, Sam’s Club, Kohl’s, Staples, CarMax, Kroger, Ross, Five Below, Old Navy, Burlington, Party City, Cato Fashions, Dollar Tree, Applebee’s, Texas Roadhouse, Starbucks, McDonald’s, Chick-fil-A, Chipotle, Buffalo Wild Wings and many more.

The property is located on Wards Road with a daily traffic count of more than 40,000 vehicles, and off Richmond Highway with 52,000 vehicles per day, and Lynchburg Expressway with 46,000 vehicles daily.

Brian Hosey
Broker of Record
Lic #: 0225247494

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