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Views: 126 DOM: 135 Updated: 11.07.24 Posted: 07.09.24 Status: Active

Summary

Price $8,250,000
Built/Renov 1976
Tenant Big Lots
Cap Rate 1.62%
Lease Type NN+
Guarantor Corp Traded
Size/SF 29,726
Lease Start 07-25-2002
#Units 1,392
Price/SF $277.53
Expiration 01-31-2030
Tenant Type Big Box Retail
NOI $133,767
R. Term 5.2
Ownership Fee Simple
Rent/SF $4.50
Increases 0.0%/0/yrs
Pop 5Mi 141,693
Lot/AC 10.99
Options 2/5yrs/25%
AHHI 5Mi $76,600

Lease Highlights

  • Big Lots has been operating in this location since 2002
  • The tenant has 5+ years remaining on the current lease term with 2 (5-year) options to extend
  • The lease features fluctuating increases throughout the initial term and option periods
  • Favorable NN+ lease with landlord responsible for roof and structure
  • Corporate guaranteed lease

Location Description

Big Lots is strategically located on Hershberger Road, with access to 23,000 vehicles passing by daily. The property is directly adjacent to well-known national tenants including Home Depot, Dollar Tree, Sportsman's Warehouse, Shewel's Home, Hardee's, Zaxby's Chicken, and Circle K. Additionally, it is in close proximity to William T. Fleming High School and less than 2 miles from Northside...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Big Lots, Inc. (NYSE: BIG) is an American furniture and home decor discount retailer. The company is known for selling food and beverages, toys, furniture, clothing, housewares and small...


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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 6,349 68,543 139,415
2024 Total Population : 6,129 68,537 139,590
2024 Employed Civilian Pop : 2,863 34,223 72,437
2024 Total Businesses : 222 2,313 6,305
2024 Average Household Income : $ 63,452 $ 65,985 $ 79,941
2024 Total Consumer Spending : $ 148 M $ 1689 M $ 4283 M
2024 Median Age : 38 40 40
2024 Total Households : 2,652 28,819 60,683
2024 Pop Age 25+: Bachelor's Degree : 794 7,102 19,018
2024 Average Home Value : $ 260,149 $ 267,540 $ 307,685
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Hershberger Road Northwest Ferncliff Ave NW 2021 23,000 0.18 mi
Hershberger Rd NW Ferncliff Ave NW 2016 26,000 0.18 mi
Hershberger Road Northwest Ordway Dr NW 2020 21,000 0.19 mi
Hershberger Road Northwest Cove Rd NW 2021 23,000 0.19 mi
Hershberger Rd NW Ordway Dr NW 2016 26,000 0.19 mi
Frontage Rd NW Ordway Dr NW 2009 1,000 0.26 mi
Ordway Dr NW 2018 2,300 0.29 mi
Ordway Dr NW 2021 1,100 0.29 mi
Ordway Dr NW 2021 6,800 0.30 mi
R-VA SR00101WB RMP001.00A Ordway Dr NW 2020 6,200 0.30 mi

Listing Broker

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