398 Wythe Crk Rd Poquoson, VA 23662-1965

This exceptional investment opportunity presents a single-tenant, net-leased retail property occupied by an Advance Auto Parts store located at 398 Wythe Creek Rd, Poquoson, VA 23662. The 8,075 square foot building, constructed in 1994 and renovated in 2017, sits on a single story and is zoned B2 - General Business. The property boasts a strong financial profile, with an asking price of $849,000, a cap rate of 7.39%, and a current NOI of $62,742. The lease is a double net (NN) lease with a current remaining term of approximately 0.1 years, but importantly, it has been recently renewed with a rent increase and includes two five-year renewal options, extending the lease to December 31, 2027. This provides significant long-term stability and predictable cash flow for the investor. The property's price per square foot is $105.14. This is a 1031 exchange eligible property, making it an attractive option for investors seeking tax-deferred exchanges. The property's location in Poquoson, Virginia, offers excellent visibility and accessibility. This is a rare opportunity to acquire a well-performing, established retail asset with a secure tenant and a compelling financial outlook. The property is a sound investment for those seeking a stable, high-yield return.