801 Larry Joe Harless Dr Gilbert, WV 25621
- Retail properties
- 8,190 SF
- 1.60 lot acres
Current Use by Public Records
- Retail properties
Property Details for 801 Larry Joe Harless Dr
- Year built
- 2003
- Lot size
- 1.60 lot acres
- Property size
- 8,190 SF
- Property type
- Retail properties
- Property subtype
- Grocery and convenience stores
Description
This exceptional investment opportunity presents a fee-simple ownership of a two-building retail portfolio totaling 8,190 square feet, situated on a 1.6-acre lot in Gilbert, West Virginia. The property, located at 801 Larry Joe Harless Drive, 25621, boasts a prime commercial zoning and ample parking with 50 spaces. Currently 100% occupied by a multi-tenant configuration featuring a Family Dollar and one additional tenant, this stabilized investment offers a compelling 9.00% cap rate. The buildings, constructed in 2003, are single-story Class B structures. The lease structure is NNN (Net, Net, Net), with a current lease term of five years remaining on one lease and another five-year lease beginning in 2032. This translates to a total lease term extending to 2032. The property's strong tenant base and long-term lease agreements provide a secure and predictable income stream. This is a rare opportunity to acquire a high-performing retail investment in a desirable location. The property offers significant potential for long-term appreciation and passive income generation. The property is offered at $999,000.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Gilbert
- County
- Mingo
- State
- West Virginia
- Longitude
- -81.8669
- Latitude
- 37.6122