21912 A L Philpott Hwy - Auto Repair FOR SALE


Spencer, VA 24165
$150,000 USD
276-632-3463
21912 A L Philpott Hwy, Spencer, VA for Sale
$150,000 USD
Auto Repair - FOR SALE
1/8
null | Request Cap Rate

21912 A L Philpott Hwy
Spencer, VA 24165


HIGHLIGHTS

  • superb Highway visibility and road frontage
  • existing month to month tenant
  • land for expansion of building site 1.6 acres

OVERVIEW

Income Producing US-58 Commercial Property – Tenant + Billboard Revenue (~8% Gross Return) Affordable commercial investment opportunity with existing income and strong highway visibility. Located along A.L. Philpott Highway (US-58) in Spencer, Virginia. This property offers excellent road frontage and steady traffic exposure in a well-traveled corridor of Henry County. The property is currently leased to a tenant on a month-to-month basis. In addition to the building tenant, the property also features a billboard that is leased annually to a local church, creating an additional source of income. Combined income from the tenant and billboard is estimated at approximately $12,000 annually, representing an estimated ~8% gross return at the current list price, with potential upside through future lease adjustments or expanded use. This 1 1/2 acre site has historically operated as an automotive and tire service location and is well suited for automotive service, contractor operations, equipment sales, small retail, or other service-based businesses. Strong highway visibility and easy access make this location attractive for a variety of commercial uses. Conveniently located with access to Martinsville, Bassett, and surrounding communities, This property presents an excellent opportunity to acquire a commercial asset with immediate income, visibility, and long-term flexibility. Income: ~$12,000/year Gross Return: ~8% Tenant: Month-to-month Additional Income: Billboard lease

FOR SALE DETAILS

PRICE

$150,000 USD

PRICE/SF

$98 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Auto Repair

ADD'L SUBTYPES

Auto Repair, Convenience Store, Service Station

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1950

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.22 AC

LAND SF

53,027 SF

ZONING

B-1

APN/PARCEL ID

160730003

ASK ABOUT THIS PROPERTY

Rives ColemanRives S. BrownMore Info
276-632-3463

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Rives ColemanRives S. BrownMore Info
276-632-3463

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