40811 Morgan Ave Pennington Gap, VA 24277
- Retail properties
- 10,500 SF
- 1.10 lot acres
Current Use by Public Records
- Family Dollar / Beer Store / Clothing Store
Property Details for 40811 Morgan Ave
- Year built
- 2024
- Lot size
- 1.10 lot acres
- Property size
- 10,500 SF
- Property type
- Retail properties
- Property subtype
- Grocery and convenience stores
Description
This exceptional investment opportunity presents a brand-new, 10,500-square-foot convenience store in Pennington Gap, Virginia, boasting a strong 7.00% cap rate. The property features a 10-year net-net lease with a corporate guarantee from Dollar Tree and Family Dollar, ensuring consistent income. Built in 2024, this single-story building sits on a 1.102-acre lot with ample parking (28 spaces). The lease includes rent bumps and four five-year renewal options, extending the investment's longevity. Located at 40811 W Morgan Ave, Pennington Gap, VA 24277, this property benefits from high visibility on Highway 58, experiencing approximately 7,500 vehicles per day. The hybrid store concept is designed for resilience against e-commerce competition, offering a secure and profitable investment with minimal landlord responsibilities, including a roof warranty. The NOI is $134,400, with an asking price of $1,920,000 ($182.86/sq ft). This is a rare opportunity to acquire a newly constructed, high-performing retail asset with a long-term lease and significant upside potential. The property's strong tenant, favorable lease terms, and prime location make it an ideal addition to any investment portfolio.
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
- Pennington Gap
- County
- Lee
- State
- Virginia
- Longitude
- -83.0409
- Latitude
- 36.7526
