106 SIXTH ST, Grottoes, VA 24441

Building Details

Year Built 1968 More

Units 1 More

Tenancy Single More

Listing Agency: The Boulder Group

Listed By: Jimmy Goodman · License IL #471007006 Show Phone

Source: Crexi

Added: Aug 5 Changed: Nov 8 Last Checked: Nov 8 at 9:02AM

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Investment Insights

Based on property information with market context.

This 2,768-square-foot bank building was constructed in 1968 and is leased to Atlantic Union Bank under a long-term NNN agreement extending through September 2040. The lease includes 1.50% annual rent increases during the primary term, two five-year renewal options with 2.00% annual increases, and no landlord responsibilities. Atlantic Union Bankshares Corporation provides a corporate guarantee, and the tenant carries a KBRA A- investment-grade credit rating with a Stable outlook affirmed in October 2025.

The property fronts US Route 340, a principal north-south corridor through the Shenandoah Valley, and sits approximately 8 miles east of Interstate 81 via VA-256. Shenandoah Valley Regional Airport is approximately 5 miles away. The surrounding five-mile trade area includes approximately 9,500 residents with average household income of approximately $103,000. Grottoes also includes Grand Caverns Regional Park, a federally designated National Natural Landmark.

Key Highlights

• 2,768‑square‑foot bank building constructed in 1968
• Atlantic Union Bank lease runs through September 2040
• NNN structure with zero landlord responsibilities

Property Analytics

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Open Analytics

Current Use

Atlantic Union Bank Bank ATM Atm

Suggested Use

Top Pick Building Supply Dental Office Auto Repair Shop HVAC Service Restaurant Auto Parts Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

126

Businesses Nearby

31k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 92% Home Improvements & Furnishings 8%

7-Eleven Shops & Services

9,382 visits/mo 0.2 miles

Dollar General Shops & Services

7,088 visits/mo 0.5 miles

Exxon Shops & Services

5,685 visits/mo 0.2 miles

Family Dollar Shops & Services

4,336 visits/mo 0.2 miles

Dean Home Center Inc Home Improvements & Furnishings

2,410 visits/mo 0.2 miles

Demographics for 24441, VA

6,327

Population

2,719

Households

2.3

Avg Household Size

42

Median Age

16%

College-Educated

90%

High-School Grad

52.9 sq mi

ZIP Area

120

Density / Sq Mi

$80,288

Median Household Income

$38,898

Median Earnings

$986

Median Rent

$250,400

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

Frequently Asked Questions

What type of property is this?

NNN property - A long-term net lease provides scheduled rent growth and no landlord responsibilities during the primary term.

Where is this nnn property located?

The property is located at 106 SIXTH ST Grottoes, VA.

What is the asking price?

The asking price for this property is $2,301,719.

What are key features of this property?

This property features: 2,768‑square‑foot bank building constructed in 1968; Atlantic Union Bank lease runs through September 2040; NNN structure with zero landlord responsibilities