3902 Coal Heritage Rd Bluefield, WV 24701

Property Details for 3902 Coal Heritage Rd

Lot size

1.11 lot acres

Property type

Retail space

APN

28-02- 17H-0018.0000

APU

280217H00180000

Description

This exceptional investment opportunity presents a 17,240 square-foot retail property in Bluefield, WV, boasting a 7.75% cap rate and a low price per square foot of $70.89. The property is situated on 1.11 acres at 3902 Coal Heritage Rd, a high-traffic thoroughfare with over 11,500 vehicles daily. It features two long-term tenants, Advance Auto Parts and Dollar General, both operating since the late 1990s, demonstrating strong commitment with numerous lease extensions. The weighted average lease term remaining exceeds six years. Current rent is significantly below market value, with substantial rent escalations built into upcoming renewal options (17% for Advance Auto Parts and 10% for Dollar General in 2025). Dollar General, an investment-grade tenant (S&P rating: BBB), contributes to the property's stability. The property benefits from a strong demographic profile, with over 50,100 people within a ten-mile radius and an average household income of $62,760. Nearby businesses include Grant's IGA Supermarket, Coca-Cola Bottling, Family Dollar, Exxon, and First Community Bank, indicating a thriving commercial area. This well-positioned, multi-tenant retail center offers a compelling investment opportunity with significant upside potential due to below-market rents and built-in rent increases. The property's Net Operating Income (NOI) is $94,712, and the asking price is $1,222,092. Built in 1996, this property presents a stable and attractive investment with strong tenant occupancy and a proven track record.

Location Insight

City

Bluefield

County

Mercer

State

West Virginia

Longitude

-81.2587

Latitude

37.3104

CBSA code

14140

CBSA name

BLUEFIELD, WV-VA MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments