2600 Stuarts Dr Hwy Stuarts Draft, VA 24477

Property Details for 2600 Stuarts Dr Hwy

Year built

1991

Lot size

1.30 lot acres

Property size

3,661 SF

Property type

Retail properties

Description

This exceptional investment opportunity presents a fee-simple ownership of a Starbucks located at 2600 Stuarts Draft Highway, Stuarts Draft, Virginia 24477. The property boasts a brand-new, 10-year lease (commencing November 29, 2023, and expiring February 28, 2034) with six 5-year renewal options, featuring 10% rent increases every five years. The 3,661 square foot building, constructed in 1991 and renovated in 2024, sits on a 1.3-acre lot and includes a modern design and a best-in-class drive-thru. The property benefits from a self-maintaining lease, excellent visibility, prominent signage, and two points of access along Stuarts Draft Highway, a primary commercial corridor with high traffic counts (over 15,200 vehicles daily). The strategic location is on a pad site adjacent to Windmill Square Shopping Center, anchored by a Food Lion, and is near major roadways, including Interstates 81 and 64. The property offers a strong 6.25% cap rate with a current NOI of $165,000 and an asking price of $2,640,000. The tenant, Starbucks Corporation, holds an investment-grade credit rating, providing significant financial security. This is a rare opportunity to acquire a high-performing, low-maintenance investment property with a long-term lease and significant upside potential. The property's recent redevelopment, coupled with the strong tenant and location, makes this an attractive investment for passive investors seeking a stable, high-return asset. The surrounding area includes a variety of other retail establishments, further enhancing the property's appeal and drawing significant traffic.