516 Commerce Dr - Restaurant FOR SALE


Bluefield, VA 24605
$2,735,459 USD
503-200-2061
516 Commerce Dr, Bluefield, VA for Sale
$2,735,459 USD
Restaurant - FOR SALE
1/4
null | 5.75% Cap Rate

516 Commerce Dr
Bluefield, VA 24605


HIGHLIGHTS

  • Absolute Triple Net (NNN) Lease with Zero Landlord Responsibilities
  • 12+ Years of Lease Term Remaining
  • Attractive Rental Increases | 1.50% Annually
  • Four (4) Tenant Renewal Periods of Five (5) Years Each
  • Tenant / Guarantor: Legacy Apple III / Legacy Apple II (40+ Restaurants)
  • Strong Traffic Counts | Highway 460 | Average Daily Traffic Counts of 18,000 Vehicles

OVERVIEW

Introducing APPLEBEE'S, a prime investment opportunity in Bluefield, Virginia. Priced at $2,735,459 with a solid CAP rate of 5.75% and annual rent of $157,289, this property offers a lucrative venture. Featuring an optimal lease structure with 12+ years remaining and attractive rental increases, this absolute Triple Net (NNN) lease requires zero landlord responsibilities. The tenant, Legacy Apple III / Legacy Apple II, brings over 40 restaurants of experience to the table. Located in a dense retail corridor near major brands like Walmart and McDonald's, the property enjoys robust traffic counts and proximity to Bluefield College. Operated by a reputable franchisee, this Applebee's is part of the thriving Thrive Restaurant Group, offering stability and a strong brand presence. Don't miss out on the chance to invest in this renowned property in an excellent location with a reliable tenant and promising financial returns.

FOR SALE DETAILS

PRICE

$2,735,459 USD

PRICE/SF

$465 USD /SF

CAP RATE

5.75%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

ADD'L SUBTYPES

Fast Food

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2005

SPRINKLERS

-

PARKING SPACES

58

LAND DETAILS

LAND ACRES

1.05 AC

LAND SF

45,738 SF

ZONING

-

APN/PARCEL ID

025-A-0041A4

ASK ABOUT THIS PROPERTY

Joseph DabushMarcus & MillichapMore Info
503-200-2061

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Joseph DabushMarcus & MillichapMore Info
503-200-2061

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