222 W Main St - Freestanding FOR SALE


New Castle, VA 24127
$1,034,759 USD
916-842-7549
222 W Main St, New Castle, VA for Sale
$1,034,759 USD
Freestanding - FOR SALE
1/1
null | 7.25% Cap Rate

222 W Main St
New Castle, VA 24127


HIGHLIGHTS

  • Leased Investment with minimal landlord responsibility.
  • Corporate Guarantee
  • Strategically located at the intersection of Viginia State Route 42 and Route 311
  • Tenant exercised extension early showing strength of location
  • Five years remaining on current extension

OVERVIEW

Marcus and Millichap is please to present this Family Dollar Single Tenant NNN Leased Investment with minimal landlord responsibility located in New Castle, VA. Strategically placed at the intersection of Virgina State Route 43 and Route 311, the subject property has outstanding visibility and exposure to over ±4,200 cars per day with a population density of ±7,700 residents within a 10-mile radius. The ±8,050 square-foot building sits on 0.5 acre lot fronting Main Street centrally located within the town of New Castle, the only town in Craig County, and about 20 miles north of The Roanoke MSA (population 315,000+), the most populous area in Virginia west of the state capital Richmond. The property has minimal local competition with only one other national brand nearby. The subject property is backed by a corporate guarantee and 17 years of operating history at the location. Family Dollar has five years remaining on their second extension with three additional 5-year options to extend with scheduled rental increases.

FOR SALE DETAILS

PRICE

$1,034,759 USD

PRICE/SF

$129 USD /SF

CAP RATE

7.25%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2008

SPRINKLERS

-

PARKING SPACES

20

LAND DETAILS

LAND ACRES

0.5 AC

LAND SF

21,780 SF

ZONING

B-1

APN/PARCEL ID

47-A6- 3- - 18

ASK ABOUT THIS PROPERTY

Christopher HurdMarcus & MillichapMore Info
916-842-7549

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Christopher HurdMarcus & MillichapMore Info
916-842-7549

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