127 Cook St Abingdon, VA 24210
- Retail properties
- 6,262 SF
- 1.45 lot acres
Current Use by Public Records
- Retail properties
Property Details for 127 Cook St
- Year built
- 2024
- Lot size
- 1.45 lot acres
- Property size
- 6,262 SF
- Property type
- Retail properties
- Property subtype
- Auto shops
Description
Exceptional investment opportunity: a brand-new, 6,262 square foot Firestone Auto Shop in Abingdon, VA, is available for purchase. This property boasts a 15-year absolute NNN lease commencing October 31, 2024, and expiring November 29, 2039, with a strong 5.20% cap rate and a net operating income (NOI) of $239,027. The lease is guaranteed by Bridgestone, a globally recognized "A"-rated investment-grade tenant, providing exceptional financial security. Situated on a 1.45-acre lot, this location benefits from its proximity to Interstate 81 (52,000 vehicles per day), a major north-south freight corridor. The property is an outparcel to a top-performing Food City, part of a larger, recently developed retail complex that includes significant road improvements and created numerous jobs. Furthermore, its adjacency to the new Meadows Sports Complex, a state-of-the-art 34-acre facility, ensures high visibility and consistent traffic. The Firestone features seven service bays and benefits from built-in rental increases of 5% every five years throughout the lease term and five subsequent 5-year option periods. This is a rare opportunity to acquire a high-performing asset with a secure, long-term lease in a prime location. The property was built in 2024 and has 100% occupancy.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Abingdon
- County
- Washington
- State
- Virginia
- Longitude
- -81.9687
- Latitude
- 36.7039
