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Reese Real Estate Development Partners Acquires Development Site In Danville For $3.42M

Property Image
SOLD
$3,420,000

Virginia

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Development Site35,212 SF
Sold 05/28/2025
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Property Image
SOLD

Reese Real Estate Development Partners Acquires Development Site In Danville For $3.42M

126 Piedmont Place

See Similar Deals
Development Site35,212 SF
Sold 05/28/2025
the dealplayerscompscontact
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Summary

VIRGINIA
Asset Type:Development Site
Price Per Square Foot:$97
Total Square Footage:35,212 SF
Transaction Type:Sale

A development site consisting of 5.38 acres was sold for $3,420,000. The property, located at 126 Piedmont Place in Danville, VA, encompasses a total of 35,212 square feet, resulting in a price per square foot of $97.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $3,420,000
  • Address: 126 Piedmont Place
  • Market: Danville, VA
  • Asset Size: 5.38 acres
  • Square Footage: 35,212
  • Price Per Square Foot: $97
  • Buyer: Reese Real Estate Development Partners
  • Seller: LIDL US Operations, LLC
  • Broker: Alex T. Wotring - Cushman & Wakefield

Reese Real Estate Development Partners executed the acquisition of the former LIDL grocery store from LIDL US Operations, LLC. The transaction was facilitated by broker Alex T. Wotring from Cushman & Wakefield, who represented the interested parties in this deal.

Players

Alex T. Wotring
Cushman & Wakefield
Alex T. Wotring
4 deals$8.6M volume
BROKER

Details

SOLD
IMAGE: 05/28/2025 ADDRESS: 126 Piedmont Place MARKET: Danville, VA ASSET TYPE: Development Site ~ ACRES: 5.38 BUYER: Reese Real Estate Development Partners SELLER: LIDL US Operations, LLC BROKER: Alex T. Wotring - Cushman & Wakefield SALE PRICE: $3,420,000 SF: 35,212 ~ PPSF: $97 NOTE: Reese Real Estate Development Partners acquired a 35,212-square-foot former LIDL grocery store at 126 Piedmont Place in Danville, VA, for $3.42 million.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$182,400.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$12,150.54
Cash-on-Cash Return-1.27%
Monthly Debt Service$16,212.54
Annual Debt Service$194,550.54