For Sale
$1,330,000

611 Mount Clinton Pike Harrisonburg, VA 22802

NNN Leased Storefront, High NOI

Overview

Added:
Jan 24
Days on market:
92
This fee-simple, 2,275 square foot storefront in Harrisonburg, VA, presents a compelling investment opportunity. Currently 100% occupied by Faded Tobacco & Vape under an absolute NNN lease with 2.5 years remaining, the property boasts a 6.51% cap rate and a strong NOI of $86,569. The lease, commencing July 20, 2022, and expiring July 31, 2027, includes attractive 3% annual rent bumps, providing inflation protection. Situated on a 0.76-acre lot at a signalized intersection with high visibility and multiple access points, including a drive-thru, the property benefits from significant traffic volume (27,700 vehicles per day). Built in 1995 and renovated in 2022, this asset offers a management-free investment experience with zero landlord responsibilities; the tenant covers all CAM, taxes, and insurance. The property's location is advantageous, being 1.5 miles from downtown Harrisonburg, across from East Mennonite University (958 students), and 1.9 miles from James Madison University (21,000 students), serving a 5-mile trade area with over 66,600 residents and 46,000 employees, and an average household income of $82,205. The asking price is $1,330,000.

Highlights

  • $1,330,000 asking price for a 2,275 SF retail storefront in Harrisonburg, VA.
  • Absolute NNN lease with Faded Tobacco & Vape, offering a 6.51% cap rate and $86,569 NOI.
  • 2.5 years remaining on the lease with 3% annual rent increases.
  • Fee simple ownership of land and building, with zero landlord responsibilities.
  • Located on a signalized corner with high visibility, multiple access points, and a drive-thru.
  • Strong demographics, situated near East Mennonite University and James Madison University.

Property Details for 611 Mount Clinton Pike

Property type
Retail properties, Retail space
Square Feet
2,275 SF
Year Built/Renovated
1995/2022
Lot Size (sq. ft)
33,106 SF

Location Insight

City
Harrisonburg
County
Harrisonburg City
State
Virginia
Latitude
38.468223440666
Longitude
-78.871939821731

FAQs

What type of property is this?
Retail property - NNN Leased Storefront, High NOI
Where is the retail property located?
The property is located at 611 Mount Clinton Pike Harrisonburg, VA.
What is the asking price?
The asking price for this property is $1,330,000.
What are key features of this property?
This property features: $1,330,000 asking price for a 2,275 SF retail storefront in Harrisonburg, VA.; Absolute NNN lease with Faded Tobacco & Vape, offering a 6.51% cap rate and $86,569 NOI.; 2.5 years remaining on the lease with 3% annual rent increases.
How can I contact the broker?
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611 Mount Clinton Pike
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