Property Listing No Longer Available for Sale

13811 Village Place Drive, Midlothian, VA

Shopping Center for Sale - $6,650,000 - 25,909 Sq. Ft. on 3 acres


Property Info

CIMLS#121226
Location
  13811 Village Place Drive
  Midlothian VA 23114
UpdatedMarch 1st, 2010
TypeShopping Center
Price$6,650,000
Building25,909 Sq. Ft.
Land3 acres

Property Description

Midlothian Village Square is a beautiful, newly-constructed retail destination built in traditional Virginian Colonial architecture. The property has frontage along Midlothian Turnpike (Route 60) giving it great visibility to over 42,000 vehicles per day. In addition, the location sits in close proximity to the intersection of this successful retail corridor and Western Loop Beltway (Route 288), centering it among over one-million square feet of thriving retail. Midlothian Village Square features brick construction with approximately 3,000 square foot of covered patio space, three outdoor wood burning fireplaces and gas lamp lighting. Located along Midlothian Turnpike on one of Richmond's most successful retail corridors, the subject property is in the path of substantial residential growth towards the recently completed western loop beltway (Route 288). Within a three-mile radius of the property, there are approximately 40,000 people with an average household income of $120,000. The average assessed home values range from $500,000 to $650,000. Midlothian is an unincorporated community in Chesterfield County, Virginia. Founded over 300 years ago as a coal mining village, it is now an outlying suburban community located well beyond the city limits in the Southside area of Richmond in the Richmond-Petersburg region. Midlothian has many neighborhoods, shopping centers, schools, and churches. The traditional village core on Route 60 is between two major shopping malls. There is very little farming and only light manufacturing around the new State Route 288. Some examples of neighborhoods around the Village of Midlothian just off Route 60 include Roxshire and Salisbury to the north and Walton Park, Queensmill, and Stonehenge West on the east. The historically significant City of Richmond consistently ranks among


Financials

Marcus & Millichap is pleased to exclusively present Midlothian Village Square, located in one of Virginia's most affluent areas. These two retail strip properties were developed in 2007 with the neighboring pad sites. Currently, the aggregate occupancy of the properties is 90%. Meticulous care was taken to design a functional yet aesthetically appealing development that would best suit the needs of the affluent consumers in the trade area. Natural tenant synergies have fueled the success of the