122 Edgecomb Rd Troy, VA 22974-4490

Property Details for 122 Edgecomb Rd

Year built

2023

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

12.59 lot acres

Zone code

I-1

Property type

Flex space

APN

5 17 1

APU

5171

Description

This exceptional investment opportunity presents a newly constructed, 52,500-square-foot warehouse in Troy, Virginia. The property boasts a strong 6.25% cap rate and a long-term net lease with PODS, a leading national company, extending until August 31, 2033, with two five-year renewal options. Built in 2023, this modern facility features approximately 800 container capacity, including valuable outdoor storage space. Situated on 3.27 acres, the warehouse enjoys excellent visibility and accessibility, located near major roadways including I-64 and Highway 15, providing convenient access to Charlottesville and Richmond. The lease includes 2.5% annual rent increases, ensuring consistent income growth. This is the first phase of a larger 16-acre industrial development in Zion Crossroads, offering significant future potential. The current rent is notably below market rates, presenting a compelling value proposition for investors. The property includes 13 parking spaces. This is a highly functional, modern industrial space with a proven tenant and a secure long-term income stream. The property's strategic location and strong tenant covenant make it an attractive investment opportunity with significant upside potential. The building is part of a planned 16-acre industrial development. The asking price is $8,394,752, representing a price per square foot of $159.90, and the net operating income (NOI) is $524,672. The property is currently 100% occupied.

Location Insight

City

Troy

County

Fluvanna

State

Virginia

Longitude

-78.2281

Latitude

37.9746

CBSA code

16820

CBSA name

CHARLOTTESVILLE, VA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments