230 Commonwealth Dr Wytheville, VA 24382
- Commercial real estate
- 4,510 SF
- 0.46 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 230 Commonwealth Dr
- Year built
- 2015
- Construction
- STEEL FRAME
- Lot size
- 0.46 lot acres
- Property size
- 4,510 SF
- Property type
- Commercial real estate
- APN
- 041A-079-0000-0008
- APU
- 041A07900000008
Description
Exceptional investment opportunity: a 4,400-square-foot freestanding Mattress Firm storefront in Wytheville, Virginia. Located at 230 Commonwealth Dr, this property boasts a prominent position at the entrance of a dominant regional power center, strategically situated at the intersection of Interstates I-81 and I-77. The center includes major anchors such as Walmart Supercenter and Lowe's, along with over 20 additional national and regional retailers and quick-service restaurants. Built in 2015, this single-story building sits on a 22,000-square-foot lot and offers ample parking with 20 spaces. The property is currently 100% occupied under a net lease with a corporate guarantee, providing significant security and stability. The asking price is $1,810,000, representing a compelling cap rate of 6.71% and a price per square foot of $411.36. The current net operating income (NOI) is $121,440. The lease includes two, five-year renewal options with 10% rent bumps each. The property is zoned for business (retail) use. This is a rare opportunity to acquire a high-performing, net-leased retail property with a strong tenant and excellent location. The tenant is a well-established national brand, further enhancing the investment's appeal. This property is ideal for investors seeking a stable, high-return investment with significant long-term potential.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Wytheville
- County
- Wythe
- State
- Virginia
- Longitude
- -81.0973
- Latitude
- 36.9584
