Property Details

Rio Road Shops (Verizon Anchored)

Charlottesville, VA
Property ID: 11462

Financial Summary

Asking Price $8,313,714
Cap Rate 7.00%
Net Operating Income (NOI) $581,960
Lease Type NNN
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Contact

Rick Fernandez
Senior Managing Director
703.787.4732

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Highlights

  • NNN leases, tenants reimburse all CAM charges
  • Verizon relocated a long-term successful store to this location
  • Hard corner, direct access to Route 29, Rio Road and Fashion Square Mall
  • Fronts 700,000 SF Fashion Square Mall
  • Stable tenancy, 4 out of 5 are original tenants
  • Below market rents provide value add opportunity
  • Vibrant retail location along Charlottesville’s main retail corridor
  • Minutes from the University of Virginia campus and 2 hrs from D.C.
  • 85,000 VPD on Route 29 and Rio Road
  • Strong national tenants, corporate guaranteed leases

Location

1650 Rio Road East
Charlottesville, VA

Leigh ClineRio Road Shops (Verizon Anchored)