10404 Mccorkle Ave Marmet, WV 25315
- Retail properties
- 11,600 SF
- 2.00 lot acres
Current Use by Public Records
- Retail properties
Property Details for 10404 Mccorkle Ave
- Year built
- 1997
- Lot size
- 2.00 lot acres
- Property size
- 11,600 SF
- Property type
- Retail properties
- Property subtype
- Grocery and convenience stores
Description
This exceptional investment opportunity presents a 11,600 square foot Family Dollar store in Marmet, WV, within the Charleston MSA. The property boasts a 10-year net lease (NN+) with approximately 5.9 years remaining, featuring a corporate guarantee from Family Dollar, Inc. The lease commenced October 1, 2020, and includes a significant rent bump of 7.03% due September 30, 2025, with further increases at each option renewal. The building, originally a Rite Aid, underwent extensive renovations in 2020, including exterior repainting and a new drop ceiling, complementing the 2016 roof replacement and 2023 parking lot resurfacing. Situated on a 2-acre lot with 45 parking spaces, this single-story, Class B building offers exceptional visibility and accessibility, located directly across from a Kroger and near Interstate 64. The property's strong financials include a 6.47% cap rate and a Net Operating Income (NOI) of $82,476. The asking price is $1,275,000, translating to a low price per square foot of $109.91. Four five-year options to renew provide long-term stability and growth potential. This is a rare opportunity to acquire a well-located, high-performing retail property with a strong tenant and significant upside. The property's location offers convenient access to Interstate 64 and is approximately 12 miles from Charleston, WV, and 20 miles from West Virginia State University. Built in 1997, the property benefits from recent investments exceeding $300,000 in tenant improvements and building upgrades. The property's location offers excellent visibility and ample parking. This is a compelling investment opportunity for those seeking a stable, high-yielding asset with significant long-term potential.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Marmet
- County
- Kanawha
- State
- West Virginia
- Longitude
- -81.5614
- Latitude
- 38.2421
