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75 Seneca Trl - Greenbrier Valley Mall
85,911 SF Retail Building Offered For Sale in Lewisburg, WV
- Starting Bid: $900,000
- Bidding: 10/28 - 10/30
Marcus & Millichap, on behalf of ownership, is pleased to exclusively offer the opportunity to purchase Greenbrier Valley Mall, an ±85,911 SF shopping center located in the seat of Greenbrier County, West Virginia (“The Offering”).
The Offering is anchored by Peebles, Hibbett Sporting Goods and Advance Auto Parts and supported by an established tenant mix of creditworthy and local retailers. Presently ±77% occupied, the Offering also represents a strong value-add opportunity in the lease up of three suites totaling ±19,428 SF. The former Save-A-Lot space is newly vacant as the Tenant left in August 2018. Greenbrier Valley Mall provides potential investors with the opportunity to acquire an anchored neighborhood center with value-enhancing strategies.
The Offering’s anchor tenants Peebles and Advance Auto Parts have operated here for more than 35 years demonstrating a strong commitment to the center. They are supported by notable tenants Hibbett Sporting Goods, H&R Block and West Virginia Department of Agriculture who along with Peebles and Advance Auto Parts make up over ±65% of the base rental revenue. This allows for security of the income stream for a potential investor. The Center has experienced high historical occupancy as the long-term tenant mix has been at the Property for an average of more than 10 years. Presently there is a ±23% vacancy comprised of three suites, one ±16,428 SF space that was a former Save-a-Lot and two ±1,500 SF spaces. The Mall is shadow-anchored by an attached former K-Mart which is rumored to be under contract to be sold to a destination use retailer. This will certainly further benefit Greenbrier Valley Mall and drive more traffic to the site.
The Property is located along Seneca Trail (±16,633 VPD) one-mile from the heart of Downtown Lewisburg. Located just south is a Burger King, CVS, and The Department of Motor Vehicles which all act as a draw to this portion of Seneca Trail. Similarly, the town of Fairlea is less than one-mile south and is home to the State Fair of West Virginia which averages ±160,000 visitors each year, Greenbrier Valley Medical Center, a ±122-bed, ±115-healthcare staff facility, VA Medical Center, a primary care clinic for an estimated 1,700 Veterans, and Greenbrier East High School with ±1,142 students. Otherwise there is very limited competition in the submarket. Greenbrier Valley Mall is the draw for commercial and medical for a 50-mile radius.
Photos may be altered and may not be representative of the true present condition of the Property.
Property Listed By: Francis McGuire - McGuire Realty Company: WV RE #0019009 / (304) 751-6577
|Price||Upon Request||No. Stories||1|
|Sale Type||Investment||Year Built||1979|
|Sale Conditions||Auction Sale||Parking Ratio||7.57/1,000 SF|
|Property Type||Retail||No. Dock-High Doors/Loading||3|
|Building Class||C||No. Drive In / Grade-Level Doors||1|
|Lot Size||38.00 AC||APN / Parcel ID||
|Gross Leasable Area||85,911 SF||Cross Streets||U.S. Hwy. 219|
ABOUT 75 Seneca Trl , Lewisburg, WV 24901
±85,911 SF value-add shopping center in Greenbrier County, West Virginia
Talent Base and Commute Times
Major Tenant Information
|Tenant||SF Occupied||Lease End Date|
|Carlito's Mexican Restaurant||5,200|
|Health Insurance Services||4,141|
|Collection Street||Cross Street||Traffic Vol||Year||Distance|
|Seneca Trl||US Hwy 219, SW||16,633||2018||0.15 mi|
|Seneca Trl||Dorsey, N||16,912||2018||0.23 mi|
|Seneca Trl||US Hwy 219||10,797||2012||0.27 mi|
|Seneca Trl||Dorsey, N||21,245||2012||0.41 mi|
|Old Powell Rd||Shanklin Rd, NE||1,773||2018||0.46 mi|
The LoopNet service and information provided therein, while believed to be accurate, are provided "as is". LoopNet disclaims any and all representations, warranties, or guarantees of any kind.
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