204 Pike St Shinnston, WV 26431-1122
- Retail space
- 1.31 lot acres
Jul 18, 2022
Current Use by Public Records
- Retail space
Property Details for 204 Pike St
- Lot size
- 1.31 lot acres
- Property type
- Retail space
- APN
- 17-06-1003-0002.0000
- APU
- 1706100300020000
Description
This exceptional investment opportunity presents a fee-simple ownership of a 13,000-square-foot Family Dollar store in Shinnston, West Virginia. Located at 204 S Pike St, this property sits on a 1.31-acre lot and boasts a strong 9.00% cap rate, generating a net operating income (NOI) of $47,916. The property features a 25.8-year lease, currently with approximately 1.1 years remaining, commencing March 6, 2000, and expiring December 31, 2025. The lease is a Net Lease (NN) with a corporate guarantee from Dollar Tree, Inc. (NYSE: DLTR), providing significant financial security. Built in 2000, this build-to-suit property has a long operating history and benefits from a low annual rent of $3.69 per square foot. The current annual rent includes a base rent of $47,916 plus percentage rent equal to 3% of gross sales exceeding $1,597,200. The lease includes scheduled rent increases of 10% every five years. This property offers a compelling combination of strong tenant occupancy (100%), a secure lease, and a high cap rate, making it an attractive addition to any investment portfolio. The property's location in Harrison County, West Virginia, provides convenient access to local amenities and a strong customer base. This is a rare opportunity to acquire a well-established, income-producing retail property with significant upside potential.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $630,000
- ML approach
- $600,000
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Location Insight
- Map
- Local Demand
- City
- Shinnston
- County
- Harrison
- State
- West Virginia
- Longitude
- -80.3057
- Latitude
- 39.3932
- CBSA code
- 17220
- CBSA name
- CLARKSBURG, WV MICROPOLITAN STATISTICAL AREA
