Bang Realty is pleased to exclusively market for sale a two-tenant Advance Auto Parts and Dollar General property located in Bluefield, West Virginia. Both Advance Auto Parts and Dollar General have been operating at the subject property since the late 90’s. They have executed numerous lease extensions throughout their tenancy demonstrating commitment to the site. The property features a weighted average lease term remaining of over 6 years. Both tenants are paying significantly below market rent; the subject property rent is $5.64 PSF compared to the Costar market rent of $11.14 PSF. Advance Auto Parts has a substantial 17% rent increase in their next renewal option, while Dollar General has an upcoming 10% escalation in 2025. Additionally, both tenants are publicly traded companies, and Dollar General is investment grade rated with an S&P rating of BBB. This is an opportunity to acquire a stabilized asset leased to two industry leading tenants and a very low basis of $70 PSF.
The 17,240 square-foot building benefits from its position along Coal Heritage Road which experiences over 11,500 vehicles per day and is considered the main thoroughfare through Bluewell into Bluefield. Both Advance Auto Parts and Dollar General have limited competition in the immediate area. Nearby tenants include Grant’s IGA Supermarket, Coca-Cola Bottling, Family Dollar, Exxon, and First Community Bank. Additionally, the area features ideal demographic metrics for the subject tenants. There are over 50,100 people living within a ten-mile radius that earn an average household income of $62,760.