4623 Amherst Hwy Madison Heights, VA 24572-5344
Property profile & analytics
4623 Amherst Hwy Madison Heights, VA 24572-5344
- Grocery and convenience stores
- 328 SF
- 0.84 lot acres
Property ID
US87-3209065
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
- Apple Market / Grocery & Convenience Store / Food Market
- bp / Gas Station
- Western Union / Bank / Credit Union
- Smoke Stack Tobacco Shop / (Bike/Boat/Book/etc) Store
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 Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- Statistic approach
- $1,505,000
- ML approach
- $1,425,000
Get a detailed, property-specific estimation — fast and free
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
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
2023
$2,453
$165,600
$236,500
$402,100
-
$165,600
$236,500
$402,100
