801 England St Ashland, VA 23005-2232

Property Details for 801 England St

Year built

1995

Lot size

2.39 lot acres

Property size

3,185 SF

Zone code

B-2

Property type

Commercial real estate

APN

7880-11-4046

APU

7880114046

Description

Exceptional investment opportunity: a thriving Shell and Jiffy Mart gas station and convenience store in Ashland, Virginia. This 2.39-acre NNN ground lease property boasts a strong 12.1 years remaining on the primary lease term, with favorable 3x5-year renewal options. The property features six gasoline dispensers, one diesel car dispenser, and three high-speed fueling positions. Amenities include a well-established Jiffy Mart convenience store, a car wash, ample restrooms, dedicated truck parking, and an ATM. The store also offers truck parts and accessories. Built in 1998, this location benefits from a 10% rent increase every five years throughout the base term and option periods, ensuring consistent income growth. The property enjoys a prime location directly off Interstate 95 (AADT 117,000 in 2022), with an average annual daily traffic count of 24,000 (AADT 2024) on England Street. Its proximity to Richmond (an 18-mile, 23-minute drive) further enhances its appeal. The current Net Operating Income (NOI) is $240,420, resulting in a 6.75% cap rate. This turnkey operation presents a compelling investment opportunity with significant potential for long-term returns. The property is 100% occupied by two tenants under a multi-tenant lease agreement commencing January 1, 1996, and expiring December 31, 2036. This presents a chance to leverage bonus depreciation.

Location Insight

City

Ashland

County

Hanover

State

Virginia

Longitude

-77.4674

Latitude

37.7577

CBSA code

40060

CBSA name

RICHMOND, VA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments