703 Atlantic St South Hill, VA 23970-3425
- Industrial properties
- 126,984 SF
- 12.75 lot acres
Current Use by Public Records
- Industrial properties
Property Details for 703 Atlantic St
- Year built
- 1970
- Lot size
- 12.75 lot acres
- Property size
- 126,984 SF
- Zone code
- C2
- Property type
- Industrial properties
- Property subtype
- Industrial live-work properties
- APN
- 078A18-A--045
- APU
- 078A18A045
Description
This exceptional investment opportunity presents a fee-simple, single-tenant, absolute NNN lease for a combined KFC and Taco Bell restaurant located at 703 E Atlantic St, South Hill, VA 23970. The property, built in 1989, boasts 3,893 square feet on a 1.04-acre lot and enjoys a prime location on a major arterial roadway providing easy access to Interstate 85 and State Road 58. The current lease, commenced March 19, 2019, and expiring March 31, 2039, has a remaining term of approximately 14.4 years, offering significant long-term stability. The lease includes two, five-year renewal options and features a 10% rent increase every five years, ensuring consistent income growth. The property's strong financial performance is reflected in its current occupancy of 100%, a pro-forma NOI of $132,312, and a cap rate of 4.25%. The asking price is $3,113,223, translating to a price per square foot of $799.70. This is a rare opportunity to acquire a well-established, high-performing QSR property with minimal landlord responsibilities and substantial future growth potential. The property's strategic location within an hour's drive of both Richmond, VA and Raleigh-Durham, NC, further enhances its investment appeal. This is a truly passive investment opportunity with a strong tenant and a long-term lease.
Value Estimations
-
AI approach
- Method
- Estimation
- ML approach
- $1,445,000
Get a detailed, property-specific valuation — fast and free
Location Insight
- Map
- Local Demand
- City
- South Hill
- County
- Mecklenburg
- State
- Virginia
- Longitude
- -78.1166
- Latitude
- 36.7201
