Multi-Tenant Retail Properties

Multi-State Markets


  • Approximate 150 mile radius from Blacksburg VA, including western NC and eastern TN, but excluding WV.
  • Secondary and tertiary markets preferred.
  • Minimum >30,000 population within five miles.

Price Range

$1 – $5 million, up to $7M for properties with >60% national tenants.


10,000 to 150,000 square feet.

Property Types

Retail Strip Center; Neighborhood Center; Infill Center: Local tenants okay. Shadow anchor okay.


1995 or newer build or major renovation date

Property Profile

  • Location within the market is key to our interest. We are generally interested in properties that may not be on the main drag, but close to it.
  • Some mix of national, regional and local tenants is a plus, not required.
  • Property with environmental issues okay
  • Additional development land and/or vacant outparcel a plus.


  • Current valuation parameters for income-producing properties require a minimum 8% cap rate based on actual performance.
  • Higher valuation will be given to properties with CAM provisions.
  • For vacant or troubled operations we use replacement cost less renovation costs as base valuation.
  • Pro forma pricing accepted, not preferred.

Typical Due Diligence Deliveries

  • 3-year historical operating statements
  • Current rent roll with all lease data and gross sales reports;
  • Current survey, title policy if available;
  • Available 3rd party reports; e.g. environmental, structural/condition report, etc.
  • All existing management, service and vendor contracts
  • If mortgage is to be assumed, copies of the Note, covenants and defeasance agreement, if any.


Typically a 60-day due diligence period, then a 30-45 day closing period.

Brokerage Fees

Seller responsible for commissions by prior agreement with broker.


Please send information for acquisitions to (PDF files preferred), or call Jared Alcorn at 540-808-4745.

Send Us Your Property

Our Affiliates

The Blacksburg Partnership Boma International International Council of Shopping Centers Montgomery County Chamber of Commerce

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