19026 Main St Buchanan, VA 24066

Property Details for 19026 Main St

Year built

2007

Lot size

0.66 lot acres

Property size

9,270 SF

Zone code

4

Property type

Retail space

APN

65A-88D

APU

65A88D

Description

This exceptional investment opportunity presents a 9,270 square foot Family Dollar store located at 19026 Main St, Buchanan, VA 24066. Boasting a strong 8.15% cap rate and a corporate-guaranteed lease with a national tenant, this single-tenant property offers significant financial stability. The lease, originally commencing August 4, 2006, has a remaining term of approximately 3.1 years, extending to December 31, 2027, with three additional five-year options. The property, built in 2007 and renovated in 2022, benefits from a high-visibility location on Main Street, offering excellent access to Interstate 11 and Highway 81. The lease is a Net Lease (NN) structure, with the tenant responsible for taxes and insurance. The landlord is responsible for roof, structure, and parking lot maintenance, capped at $1,000 annually. Adding to the income stream, the tenant pays a percentage rent equal to 3% of gross sales exceeding $1,983,333 annually. The asking price is $730,000, representing a price per square foot of $78.75. The property's strong tenant, recent renovations, and favorable lease terms make this a compelling investment opportunity with a substantial return. The property features one story and a total of 9,270 square feet of net rentable space. The APN is 65A-88D. This is a 100% occupied property with a current NOI of $59,500.

Location Insight

City

Buchanan

County

Botetourt

State

Virginia

Longitude

-79.6889

Latitude

37.5204

CBSA code

40220

CBSA name

ROANOKE, VA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments