216 Park NE Ave Wise, VA 24293-5110
Property profile & analytics
216 Park NE Ave Wise, VA 24293-5110
- Retail space
- 8,320 SF
Property ID
US87-2139385
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Family Dollar / Discount Store
- Dr. Owen Powers / Alternative Medicine Practice
Property Details for 216 Park NE Ave
- Year built
- 2015
- Construction
- STEEL FRAME
- Property size
- 8,320 SF
- Property type
- Retail space
- APN
- R013307
- APU
- R013307
Description
This exceptional investment opportunity presents a fee-simple ownership of an 8,320 square foot, single-story retail building in Wise, Virginia. Built in 2016 as a build-to-suit for Family Dollar, this property boasts a strong, credit-rated corporate guarantee lease with Dollar Tree (which acquired Family Dollar in 2015), a leading discount retailer with over 16,000 locations. The current lease, a Net Lease (NN+) structure, commenced March 15, 2016, and has recently been extended to March 31, 2033, providing a remaining term of 8.5 years. Six five-year renewal options are included, each with a 10% rent increase. The property generates a substantial net operating income (NOI) of $127,000, resulting in a 7.50% cap rate. Situated on a 0.2-acre lot at 216 Park Ave NE, Wise, VA 24293, this location benefits from excellent visibility and proximity to major national retailers including Walmart, Harbor Freight Tools, Tractor Supply, Lowe's, GameStop, KFC, and Arby's. The strong demographics further enhance the investment appeal, with approximately 9,573 residents within a 3-mile radius and 16,159 within a 5-mile radius. This is a rare opportunity to acquire a well-performing, stable retail investment with a long-term lease and significant upside potential. The asking price is $1,693,333.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- Statistic approach
- $1,325,000
- ML approach
- $1,425,000
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Wise
- County
- Wise
- State
- Virginia
- Longitude
- -82.572
- Latitude
- 36.9763
- CBSA code
- 13720
- CBSA name
- BIG STONE GAP, VA MICROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
0
$0.00
$60,000
$509,000
$569,000
-
$60,000
$509,000
$569,000
