703 Atlantic St South Hill, VA 23970-3425
Property Lookup
Property profile & analytics
703 Atlantic St South Hill, VA 23970-3425
- Industrial properties
- 126,984 SF
- 12.75 lot acres
Property ID
US87-3094071
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
- 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
based on Realmo’s proprietary methodology
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $9,789,000
- AI Estimate
- $13,131,000
Market price range: $4.99M - $13.3MMarket price range: $5.32M - $18.6M
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- South Hill
- County
- Mecklenburg
- State
- Virginia
- Longitude
- -78.1166
- Latitude
- 36.7201
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
$32,356
$3,136,500
$4,952,400
$8,088,900
-
$3,136,500
$4,952,400
$8,088,900
