Opening Fall 2026 in Downtown Blacksburg
Types of Tenants and Descriptions
a. Startup tenant, Stalls 1-5
This tenant is one that is in the beginning stages of entrepreneurship and could have a home operated or web-based business. They may also sell at local markets or through online platforms. This tenant rents a Stall A inside of 414 of a minimum of 12 months, with an intent to grow financially and professionally. They envision participating in events, abiding to lease terms and conditions include attendance of educational programs.
Graduation Goal: to move into a brick and mortar within downtown or beyond within 1-5 years.
b. Mentor tenant, Stalls 1-5
This tenant is one that has some experience in ownership and has at least 1 physical location, standalone (cannot be in Blacksburg town limits and no more than 3 locations) or co-op (none located in downtown Blacksburg). Additionally, their store could operate on a single platform website at a minimum of 3 years (proof may be required). This tenant will mentor one or more other Startup Tenants each for 2-5 hours each month. Startup Tenants will provide areas of interest and be matched with a Mentor Tenant for 6 months. Both tenants will evaluate after the 6-month period. Mentor Tenants spearhead 414 events and increase marketing and overall awareness of the space.
Graduation Goal: to grow their business into a brick and mortar in downtown within 1-3 years.
c. Wall display tenants (Wall Displays 1-5)
This tenant may be in the early stages of business and not ready for a Stall A. They may have limited or made-to-order items, and as such they do not have enough inventory to fill a larger stall. They may not have the capacity to be in person or be able to provide an in-store experience. They have the option to attend educational programming remotely if available.
Graduation Goal: move into a Stall A after 12 months if available/applicable per rules, move into brick and mortar, or enter a co-op lease agreement with another downtown merchant.
e. Pop-Up Tenant (monthly)
This tenant may sell in any other physical location or online but would like to test a product in the Blacksburg market during 414 retail hours. The Pop-Up Tenant has different requirements and rules as stated in the application.
LIFECYCLE OF THE INCUBATOR TENANT
Lease Terms
Incubator tenants typically sign 1-year leases, which may be renewed based on performance, community engagement, and program needs. Short-term and Pop-Up leases may vary depending on space and program type.
Selection Criteria
Tenants are selected based on:
- Market fit for downtown Blacksburg
- Uniqueness and innovation of the business concept
- Alignment with 414’s mission and values
- Creativity, adaptability, and willingness to engage with the community
- Future projections showing goals of sales and financial growth
- Likelihood to move out of space at the end of their 3-5 year rental period
Preference is given to businesses that create unique experiences for visitors, collaborate with fellow tenants, and actively contribute to a vibrant retail environment.
RATES range from $200-$500 per month and will increase every 6 months during the tenant lifecycle as to prepare tenant to pay market rate upon graduation. If you'd like more infomration about rate structure, please reach out to Tracie Hughes, Executive Director of Downtown Blacksburg, Inc. at
DRAFT TENANT HANDBOOK: not complete but contains important information
FIRST ROUND OF TENANT APPLICATIONS FOR INCUBATOR OPEN NOW: https://bit.ly/3OIQnI0
Adiitonal information at https://letstalkblacksburg.org/retail
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Media coverage for The Local @414