709 E Main St - Drug Store FOR SALE


Floyd, VA 24091
$1,017,000 USD
202-286-1542
709 E Main St, Floyd, VA for Sale
$1,017,000 USD
Drug Store - FOR SALE
1/10
null | 7% Cap Rate

709 E Main St
Floyd, VA 24091


HIGHLIGHTS

  • Ideal, management-free investment for a passive investor
  • Strategically fronting East Main Street averaging 11,000 VPD
  • Nearby retailers include Food Lion, Dollar General, NAPA Auto Parts, and more
  • Excellent visibility via street frontage and multiple points of access

OVERVIEW

• The tenant signed a recent lease extension leaving them with 6+ years of term and 6 (3-year) options to extend • The lease features 5% rental increases at the beginning of each option to extend, steadily growing the asset’s NOI and providing a hedge against inflation • Tenant pays for CAM, taxes, insurance and maintains most aspects of the premises • Landlord responsibilities limited to roof, structure, HVAC, and electrical systems • 2017 remodel that feature high quality materials, distinct design elements, and high-level finishes • The AHHI within a 10-mile radius of the subject property exceeds $71,709 • There are 3,932 daytime employees and a population of 12,248

FOR SALE DETAILS

PRICE

$1,017,000 USD

PRICE/SF

$132 USD /SF

CAP RATE

7%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

CVS - Floyd, VA

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1965

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.54 AC

LAND SF

23,522 SF

ZONING

-

APN/PARCEL ID

55A2-5-2

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.