421 Main St Madison, WV 25130-1223

Property Details for 421 Main St

Lot size

0.10 lot acres

Property type

Retail space

APN

03-03- 5-0009.0000

APU

303500090000

Description

This exceptional investment opportunity presents a freestanding Dollar General store in Madison, West Virginia, offering a compelling 10% cap rate on a $360,000 asking price. The property boasts 8,615 square feet on a 0.22-acre lot, situated at 421 Main St, Madison, WV 25130. Built in 1950, this two-story building is currently 100% occupied under a Net Net (NN) lease with a credit-rated tenant, Dollar General, providing minimal landlord responsibilities. The lease has a remaining term of two years with a five-year option. The property generates a substantial net operating income (NOI) of $36,000 annually. The location benefits from a strong demographic profile, with over 2,700 residents within a one-mile radius and over 5,400 within three miles. Its proximity to Yeager Airport (a 37-minute drive) further enhances its appeal. Dollar General's robust financial performance, including a "BBB" investment-grade credit rating and over $39 billion in FY2023 revenue, underscores the stability and resilience of this investment. The property's location is also supported by the presence of other national and local retailers, including Kroger, Save A Lot, and McDonald's. This is a rare opportunity to acquire a high-performing, single-tenant retail property with a strong tenant and excellent location.

Location Insight

City

Madison

County

Boone

State

West Virginia

Longitude

-81.8229

Latitude

38.0632

CBSA code

16620

CBSA name

CHARLESTON, WV METROPOLITAN STATISTICAL AREA

Property Tax & Assessments