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Virtual Drive-By

Food Lion NNN

2909 Memorial Avenue · Lynchburg, VA 24501 · Specialty Retail

Asking price
$3,980,000
Cap rate
6.75%
NOI
$268,745

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Lease

Lease typeNNN
Term remaining4.2 yrs
Expiration09/2030
Rent bumpsYes
Options1 x 5
Ground leaseNo
Credit profileCredit Rated
TenancySingle

Planning a 1031 Exchange

Give us your relinquished sale close date and we will calculate your 45-day identification and 180-day closing deadlines, track the clock, and surface matching inventory before it expires. We coordinate directly with your Qualified Intermediary and can introduce one if you have not yet engaged an exchange accommodator. Investment Grade does not provide tax or legal advice.

Property

Building SF29,640
Price / SF$9
Year built1982
Lot size2.48 ac
TypeGrocery Store, Pharmacy/Drug, Shopping Center
Days on market26

Need year-one bonus depreciation

Building age, size and improvement mix drive how much of this asset a cost segregation study can accelerate into year one. Tell us your tax year and entity and we will model the deduction.

Investment highlights

  • ​Free-Standing Food Lion building with limited landlord responsibilities. Food Lion is a well-established national grocer backed by Ahold Delhaize, one of the world's largest food retail groups

  • ​Food Lion is interested in signing a long term lease extension showing their commitment to the location

  • ​Strong-performing Food Lion with a low rent-to-sales ratio

  • ​The subject property offers convenient access, excellent visibility, and is located at the hard corner of Oakley and Memorial Avenues, which experience an average daily traffic count of 20,362 vehicles (VPD)

  • ​Lynchburg is a stable and growing regional hub with a diverse economic base, including healthcare, education, manufacturing, and logistics. Home to multiple colleges and universities - such as Liberty University, one of the largest private universities in the U.S. - the city benefits from a steady population, a strong workforce, and consistent consumer demand

Property overview

Cleeman Realty Group is pleased to present the exclusive opportunity to acquire the Free-Standing Food Lion located at 2909 Memorial Avenue, Lynchburg, VA.​ Food Lion has operated at this site for over 40 years and has only one (1) remaining renewal option, offering a buyer the opportunity to renegotiate lease terms within the next ten (10) years and increase the rent to market rates, projected to be nearly $12 PSF.​ The subject property offers convenient access, excellent visibility, and is located at the hard corner of Oakley and Memorial Avenues, which experience an average daily traffic count of 20,362 VPD.​

Contact us to learn more.​

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Asking-market observation aggregated from public listing sources, last observed Sep 25, 2026. Figures are asking price and asking cap rate as published by the listing party, not a verified closed transaction. Lease terms shown where reported by the listing party and not independently verified. Shown for market reference only; this is not an offering. Investment Grade Income Property, LP represents buyers on a cooperating commission basis.