Current Use by Public Records
- Retail properties & Spaces
Property Details for 13414 Riverside Dr
- Lot size
- 2.00 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Grocery and convenience stores
Description
This exceptional investment opportunity presents a 16,563 square foot convenience store in Oakwood, Virginia, currently leased to Dollar Tree/Family Dollar under a Net Net Net (NNN) lease. The property sits on a 2-acre lot at 13414 Riverside Dr, 24631, boasting a strong 7.75% cap rate and a substantial NOI of $90,997. The lease commenced December 31, 2022, and has a remaining term of approximately 8.1 years, with five 5-year renewal options. Rent increases by $0.50 per square foot during each option period. The tenant, a Fortune 500 company with an S&P investment grade credit rating of BBB, is responsible for all operating expenses including taxes, insurance, utilities, HVAC, landscaping, and routine parking lot maintenance. Landlord responsibilities are limited to roof, structure, and parking lot. This presents a low-risk, high-return investment with a low price point of $1,175,000. The property is conveniently located approximately 1.5 hours west of Princeton, WV, a regional hub with significant retail presence including Lowe's, Kroger, Walmart, and Big Lots, and a major medical facility, Princeton Community Hospital. Nearby national retailers within a 5-mile radius include Tractor Supply, Food City, McDonald's, and Dairy Queen. This is a rare opportunity to acquire a well-positioned, stable, and highly profitable retail investment.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Oakwood
- County
- Buchanan
- State
- Virginia
- Longitude
- -82.0307
- Latitude
- 37.2214
