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Virtual Drive-By

Food Lion NNN Multi-tenant

1380 East Main Street · Wytheville, VA 24382 · Specialty Retail

Asking price
$8,060,550
Cap rate
6.50%
NOI
$523,936

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Lease

Lease typeNNN
Term remaining10.0 yrs
Expiration—
Rent bumpsYes
Options—
Ground leaseNo
Credit profileCredit Rated + Corporate Guarantee
TenancyMulti

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 SF87,964
Price / SF$92
Year built1981
Lot size9.20 ac
TypeGrocery Store, Storefront, Shopping Center
Days on market88

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

  • ​Grocery anchored center with 45+ years of continuous Food Lion occupancy, $10.2 million in annual store sales, and a 1.84% rent to sales ratio well below the industry average, confirming a highly profitable location with renewal options extending to 2055 backed by Ahold Delhaize credit.
  • ​Three national credit tenants producing over 72% of base rent across grocery, pharmacy, and rural lifestyle retail, creating a diversified, recession resistant income stream.
  • ​CVS generating nearly $10 million in annual sales at this location, confirming exceptional trade area depth for a secondary market.
  • ​Tractor Supply recently extended through 2037 and invested $200,000 in store capital improvements, signaling long term corporate commitment to this location.
  • ​100% occupied with contractual rent growth built into every major lease, providing NOI increases without re-leasing risk
  • ​Dominant location at the I-81 and I-77 crossroads in Wytheville, Virginia, capturing regional traffic from two of the most heavily traveled interstate corridors in the Mid-Atlantic.

Property overview

The Twist Capital Team of Colliers is pleased to present for sale LeHy Plaza Shopping Center, a rare grocery-anchored retail center totaling 87,964 square feet on 9.196 acres located at the intersection of Interstate 81 and Interstate 77 in Wytheville, Virginia.​ Well-located grocery-anchored centers with proven anchor sales performance and national credit tenancy continue to be among the most aggressively pursued assets in retail investment, and LeHy Plaza delivers on every metric that institutional and private capital is competing for.​

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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.