1209 N Main St - Freestanding FOR SALE


Marion, VA 24354
$1,965,000 USD
202-286-1542
1209 N Main St, Marion, VA for Sale
$1,965,000 USD
Freestanding - FOR SALE
1/9
null | 6.2% Cap Rate

1209 N Main St
Marion, VA 24354


HIGHLIGHTS

  • More than 10,000 residents and 7,000 employees support trade area
  • $71,274 average household income within a 1-mile radius

OVERVIEW

• Starbucks exercised their first option early allowing them to extend their lease term significantly. They now have 12.5 years remaining on their lease with 6 (5-year) options to extend, demonstrating their long-term commitment to the site • 2022 construction which features high-quality materials, high-level finishes, and distinct Starbucks design elements • The lease is corporate signed by Starbucks, an investment grade (S&P: BBB+), nationally recognized, and established firm with over 38,000 stores • The lease features 10% rental increases every 5 years and at the beginning of each option • Tenant pays for taxes, insurance and maintains most aspects of the premises • Limited landlord responsibilities to roof & structure • Ideal, low-management investment for a passive investor • Starbucks is an outparcel at Smyth Valley Crossing, anchored by Walmart and Ingles Markets • The immediate trade area is supported by neighboring retailers such as Food Lion, Tractor Supply Co, Food City, Wendy’s, and more • Off I-81 (35,000 VPD), providing direct on/off ramp access for users • Equipped with a drive-thru, providing ease and convenience for customers while maximining productivity and efficiency • Down the road from Marion High School, providing a direct consumer base from which to draw

FOR SALE DETAILS

PRICE

$1,965,000 USD

PRICE/SF

$786 USD /SF

CAP RATE

6.2%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Starbucks - Marion, VA

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Fast Food

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2022

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.69 AC

LAND SF

30,056 SF

ZONING

C1

APN/PARCEL ID

-

ASK ABOUT THIS PROPERTY

Andrew FallonSRS Real Estate PartnersMore Info
202-286-1542

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Andrew FallonSRS Real Estate PartnersMore Info
202-286-1542

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.