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    230 Commonwealth Dr Wytheville, VA 24382

    Sponsored
    For Sale
    $1,810,000

    High-cap rate, corporate-guaranteed Mattress Firm

    Property size:
    4,400 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    Exceptional investment opportunity: a 4,400-square-foot freestanding Mattress Firm storefront in Wytheville, Virginia. Located at 230 Commonwealth Dr, this property boasts a prominent position at the entrance of a dominant regional power center, strategically situated at the intersection of Interstates I-81 and I-77. The center includes major anchors such as Walmart Supercenter and Lowe's, along with over 20 additional national and regional retailers and quick-service restaurants. Built in 2015, this single-story building sits on a 22,000-square-foot lot and offers ample parking with 20 spaces. The property is currently 100% occupied under a net lease with a corporate guarantee, providing significant security and stability. The asking price is $1,810,000, representing a compelling cap rate of 6.71% and a price per square foot of $411.36. The current net operating income (NOI) is $121,440. The lease includes two, five-year renewal options with 10% rent bumps each. The property is zoned for business (retail) use. This is a rare opportunity to acquire a high-performing, net-leased retail property with a strong tenant and excellent location. The tenant is a well-established national brand, further enhancing the investment's appeal. This property is ideal for investors seeking a stable, high-return investment with significant long-term potential.

    Property Features for 230 Commonwealth Dr

    General Information

    Property type
    Individual retail properties
    Square Feet
    4,400 SF

    Building Details

    Year Built
    2015
    Stories
    1

    HighLights

    • $1,810,000 asking price for a 4,400 square foot Mattress Firm storefront.
    • Net lease investment with a corporate guarantee.
    • 6.71% cap rate and $121,440 annual net operating income (NOI).
    • Located at the entrance of a dominant power center in Wytheville, VA, at the intersection of I‑81 and I‑77.
    • 20 parking spaces on a 22,000 square foot lot.
    • Built in 2015, with two 5‑year lease options, each with a 10% rent bump.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Wytheville
    County
    Wythe
    State
    Virginia
    Longitude
    -81.0976378
    Latitude
    36.9581566

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    FAQs

    What type of property is this?
    Individual retail property - High-cap rate, corporate-guaranteed Mattress Firm
    Where is this individual retail property located?
    The property is located at 230 Commonwealth Dr Wytheville, VA.
    What is the asking price?
    The asking price for this property is $1,810,000.
    What are key features of this property?
    This property features: $1,810,000 asking price for a 4,400 square foot Mattress Firm storefront.; Net lease investment with a corporate guarantee.; 6.71% cap rate and $121,440 annual net operating income (NOI).
    Request Owner's contact information
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    230 Commonwealth Dr Wytheville, VA 24382
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