12604 Maccorkle Ave - Freestanding FOR SALE


Chesapeake, WV 25315- Outer S Charleston/Kanawha City
$975,000 USD
513-300-0763
12604 Maccorkle Ave, Chesapeake, WV for Sale
$975,000 USD
Freestanding - FOR SALE
1/5
null | 8.72% Cap Rate

12604 Maccorkle Ave
Chesapeake, WV 25315
Outer S Charleston/Kanawha City


HIGHLIGHTS

  • LONG TERM TENANT: Dollar General has been at this location since 2019 and has 3+ years remaining on their lease with three (3), 5-year renewal options
  • ATTRACTIVE RENT INCREASES: The lease includes attractive 10% rent increases at the start of each renewal option.
  • OPERATING EXPENSE PROTECTION: Dollar General reimburses 100% of real estate taxes, insurance, and common area maintenance.
  • INVESTMENT GRADE CREDIT: Dollar General has the highest credit rating among its peers and holds investment grade credit – rated BBB (S&P).
  • PROXIMITY TO CHARLESTON: Charleston, the capital and largest city of West Virginia, is located approximately 15 miles away.
  • RECESSION RESISTANT TENANT: Dollar General thrives in middle-America markets where incomes may be modest, proving the tenant to be a resilient tenant

OVERVIEW

We are pleased to present the exclusive opportunity to purchase a freestanding Dollar General investment property located at 12604 MacCorkle Avenue SE in Chesapeake, West Virginia (the “Property”). Dollar General has been at this location since 2019 and has 3+ years remaining on their lease with three (3), 5-year renewal options. The lease features attractive 10% rent increases at the start of each renewal option. The Property is well located along MacCorkle Avenue SE (WV Route 61), the area’s primary commercial and commuter corridor, and enjoys outstanding frontage and visibility with a large pylon sign. The Property is positioned in the heart of Chesapeake and Dollar General benefits from a lack of competition as it is one of the only national retailers serving the town. The Property is surrounded by area businesses, schools and residential neighborhoods, and provides convenient access to Interstate 64, US Route 60, and WV Route 94. Chesapeake is positioned along the banks of the Kanawha River approximately 15 miles southeast of Charleston, the state capital and economic center of central West Virginia. Highlights: LONG TERM TENANT: Dollar General has been at this location since 2019 and has 3+ years remaining on their lease with three (3), 5-year renewal options. ATTRACTIVE RENT INCREASES: The lease includes attractive 10% rent increases at the start of each renewal option, providing a steady increase in income and an attractive hedge against inflation. OPERATING EXPENSE PROTECTION: Dollar General reimburses 100% of real estate taxes, insurance, and common area maintenance, preserving in-place cash flow and providing protection against rising operating expenses. INVESTMENT GRADE CREDIT: Dollar General has the highest credit rating among its peers and holds investment grade credit – rated BBB (S&P) and Baa2 (Moody’s). Dollar General operates over 20,500 locations throughout the country. Dollar General’s net sales increased 5% to $40.6 Billion in fiscal year 2024. PROXIMITY TO CHARLESTON: Charleston, the capital and largest city of West Virginia, is located approximately 15 miles away. The city has a population of about 45,000, reflecting its role as a central hub for government, commerce, and culture in the region. Charleston’s diverse economy includes sectors such as healthcare, education, government services, and chemical manufacturing. Charleston is home to several major companies and institutions, including the headquarters of the Appalachian Power Company and Charleston Area Medical Center, one of the region's largest healthcare providers. Charleston also offers an abundance of shopping with national retailers and restaurants as well as a rich cultural scene with various attractions and events. RECESSION RESISTANT TENANT: Dollar General thrives in middle-America markets where incomes may be modest, proving the tenant to be a resilient and recession-resistant retailer. Dollar General has reported positive year-over-year growth in net sales every year since the company went public in 2009. TRAFFIC COUNTS & DEMOGRAPHICS: More than 5,600 vehicles pass the Property each day along MacCorkle Avenue SE (WV Route 61). Over 11,200 people live within 5-miles of the Property with an average household income of $70,537. More than 46,300 people live within 10-miles of the Property with an average household income of $98,337.

FOR SALE DETAILS

PRICE

$975,000 USD

PRICE/SF

$83 USD /SF

CAP RATE

8.72%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Convenience Store, Storefront, Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1969

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.72 AC

LAND SF

31,363 SF

ZONING

-

APN/PARCEL ID

20-3-00600000

ASK ABOUT THIS PROPERTY

Brian BrockmanBang RealtyMore Info
513-300-0763

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Brian BrockmanBang RealtyMore Info
513-300-0763

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