4623 Amherst Hwy Madison Heights, VA 24572-5344
- Grocery and convenience stores
- 328 SF
- 0.84 lot acres
Current Use by Public Records
- Apple Market / Grocery Store / Convenience Store
- bp / Gas Station / Convenience Store
- Western Union / Money Transfer Service
- Smoke Stack Tobacco Shop / Tobacco Shop
Property Details for 4623 Amherst Hwy
- Year built
- 1969
- Lot size
- 0.84 lot acres
- Property size
- 328 SF
- Zone code
- B2
- Property type
- Grocery and convenience stores
- APN
- 155B A 17
- APU
- 155BA17
Description
This exceptional investment opportunity presents a 1,922-square-foot ARKO convenience store located at 4623 S Amherst Hwy, Madison Heights, VA 24572. The property sits on a 0.845-acre lot and benefits from a prominent location in a dense retail corridor with high traffic volume exceeding 31,400 vehicles daily. The store is subject to a 12-year triple-net (NNN) lease, commencing June 21, 2023, and expiring June 30, 2035, leaving a substantial remaining lease term of approximately 10.6 years. The current annual net operating income (NOI) is $97,871, with built-in annual rent increases of 1.50%. The asking price is $1,779,480, representing a 5.50% cap rate and a price per square foot of $925.85. The lease includes a corporate guarantee, ensuring tenant reliability. This investment offers significant tax advantages due to its eligibility for bonus and accelerated depreciation. Nearby national retailers include Walmart, Starbucks, KFC, McDonald's, Dairy Queen, Wendy's, Lowe's, Dunkin', Subway, Pizza Hut, Tidal Wave Auto Spa, Speedway, Wells Fargo, CVS, and Advance Auto Parts, further solidifying the property's strong location and potential for continued success. The property boasts excellent frontage along S Amherst Highway, maximizing visibility and accessibility. This is a turnkey investment opportunity with a secure, long-term lease and strong potential for return. 100% occupancy ensures immediate cash flow.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $1,505,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $1,420,000
- 6.5%
- $1,575,000
- 7%
- $1,630,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $1,505,000
- Geo Method
- $1,400,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $1,330,000
- Retail
- $1,310,000
- Mixed-Use
- $1,515,000
- Hospitality
- $1,430,000
- Educational
- $1,705,000
- Residential Income
- $1,375,000
- Energy
- $1,370,000
- Income-Based Land
- $1,675,000
- Food Service
- $1,715,000
Location Insight
- Map
- Local Demand
- City
- Madison Heights
- County
- Amherst
- State
- Virginia
- Longitude
- -79.1195
- Latitude
- 37.4478
- CBSA code
- 31340
- CBSA name
- LYNCHBURG, VA METROPOLITAN STATISTICAL AREA
