29 Grapevine Rd - Convenience Store FOR SALE


Martinsburg, WV 25405
$3,702,970 USD
513-300-0763
29 Grapevine Rd, Martinsburg, WV for Sale
$3,702,970 USD
Convenience Store - FOR SALE
1/6
null | 5.05% Cap Rate

29 Grapevine Rd
Martinsburg, WV 25405


HIGHLIGHTS

  • Tenant funded all entitlements, site work, and construction. High basis reduces relocation risk and demonstrates long-term Commitment
  • The Royal Farms corporate ground lease has 14+ years remaining on their Absolute NNN Ground Lease with two (2), 10-year renewal options.
  • The ground lease features an attractive 10.0% rent increase every five years throughout the primary lease term and the renewal option periods,
  • High-flow diesel and DEF pumps capture commercial and truck traffic, which expands revenue streams beyond traditional fuel service convenience retail
  • Licensed for beer and wine, creating a high-margin revenue stream, expanding the customer base beyond traditional fuel and convenience users.
  • 40,000 vehicles per day pass the Property at the signalized intersection of Charles Town Road (WV Route 9) and Grapevine Road.

OVERVIEW

We are pleased to present the exclusive opportunity to purchase a Royal Farms ground lease located at 29 Grapevine Road in Martinsburg, West Virginia (“the Property”). The fuel service (gas and high-flow diesel) station and convenience store was constructed in 2021 and has 14+ years remaining on their Absolute NNN Ground Lease with two (2), 10-year renewal options. The lease calls for an attractive 10% rent increase every five years throughout the primary lease term and renewal options. Royal Farms is extremely well located at the signalized intersection of Grapevine Road and Charles Town Road (WV Route 9), the area’s primary commercial and commuter corridor. The Property enjoys outstanding frontage, visibility and access and is 2-miles from Interstate 81 and 1.5-miles from US Route 11 providing efficient connectivity throughout Martinsburg and the surrounding Eastern Panhandle communities. Positioned along WV Route 9, Royal farms is perfectly positioned to capture business from passing commuters heading into and out of Downtown Martinsburg. The Property is close to residential neighborhoods and area schools that provide a captive customer base and enjoys convenient access to the Martinsburg VA Medical Center and several large employers, all of which drive traffic to the immediate area. Martinsburg is a historic and fast-growing city located in the Eastern Panhandle of West Virginia, approximately 80 miles northwest of Washington, D.C. As the county seat of Berkeley County, Martinsburg serves as an important regional hub for commerce, transportation, healthcare, and government services.

FOR SALE DETAILS

PRICE

$3,702,970 USD

PRICE/SF

$231 USD /SF

CAP RATE

5.05%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Convenience Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2021

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

2.48 AC

LAND SF

108,029 SF

ZONING

-

APN/PARCEL ID

01-6-00090000

ASK ABOUT THIS PROPERTY

Brian BrockmanBang Realty, IncMore Info
513-300-0763

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Brian BrockmanBang Realty, IncMore Info
513-300-0763

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