Danville, VA - Walgreens (Dark)
$4,333,000
1500 Piney Forest Rd, Danville, VA 24540
9
Cap Rate
390,000
NOI
Details:
Description:
SRS National Net Lease is pleased to present the opportunity to acquire the fee simple interest (land & building ownership) in a dark Walgreens property located in Danville, Virginia. The asset offers approximately 11 years of remaining lease term, providing stable near-term in-place income. The tenant is currently dark, creating a compelling value-add opportunity through future re-tenanting or redevelopment. The existing drive-thru infrastructure enhances flexibility for a wide range of retail, restaurant, or medical users while reducing future redevelopment costs
The property is strategically positioned at the signalized intersection of Piney Forest Road / US-29 (26,000 VPD) and Franklin Turnpike / VA-41 (16,000 VPD), offering excellent visibility and convenient ingress and egress along two of Danville’s most heavily traveled roadways. The site benefits from a prominent corner location within a dense retail corridor and is directly adjacent to national retailers including AutoZone, Wendy’s, and McDonald’s, fostering strong cross-shopping activity. The surrounding retail node is further supported by nearby national brands such as Food Lion, DG Market, and Walmart, reinforcing the property’s placement within a mature, high-traffic commercial corridor that drives consistent consumer traffic. The property is also located near key community anchors including Galileo Magnet High School and George Washington High School, which contribute steady activity from students, faculty, and staff. Nearby healthcare providers such as GoDocs Urgent Care and the Danville VA Clinic further enhance daytime population and local traffic. The asset is surrounded by established residential neighborhoods and multiple multifamily communities, including Highland Heights Apartments, Woodside Village Apartments, and Hunters Run, providing a built-in consumer base within walking distance. The five-mile trade area supports more than 45,000 residents and approximately 25,000 employees, underscoring the area’s strong demographics and sustained demand for retail services.
Location
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