For Sale
$1,399,000

102 Dominion DrEmporia, VA 23847

High-Cap Rate Aaron's Furniture Store

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional investment opportunity presents a fee-simple 10,228 square foot Aaron's Furniture storefront located at 102 Dominion Dr, Emporia, VA 23847. The property, built in 2007, sits on a 1.83-acre lot and boasts 50 parking spaces, sharing a location with a Walmart shopping center. Currently operating under a double net lease (NN) with a corporate guarantee, the tenant enjoys a lease term expiring December 31, 2025, with a remaining term of approximately 1.1 years. A single renewal option extends the lease through January 31, 2031. The asking price is $1,399,000, representing a compelling price per square foot of $161 and a strong 9.44% cap rate based on a current Net Operating Income (NOI) of $132,000. The property features a single story building with AA4 zoning. The HVAC system was replaced in June 2023. Landlord responsibilities include roof, HVAC, and parking surface maintenance. This is a rare opportunity to acquire a well-located, stable retail investment with a strong tenant and significant upside potential. 100% occupancy ensures immediate cash flow.

Highlights

  • Fee-simple 10,228 SF Aaron's Furniture storefront in Emporia, VA.
  • 1.83-acre lot with 50 parking spaces, co-located with Walmart.
  • NN lease with corporate guarantee expiring 12/31/2025, with one renewal option to 1/31/2031.
  • $1,399,000 asking price; $161/SF; 9.44% cap rate based on $132,000 NOI.
  • Single-story building, AA4 zoning, HVAC replaced June 2023; Landlord responsible for roof, HVAC, and parking lot.

Property Details for 102 Dominion Dr

Property type
Retail properties, Retail space
Square Feet
10,228 SF
Year Built
2007
Buildings
1
Stories
1
Lot Size (sq. ft)
79,715 SF

Location Insight

City
Emporia
County
Emporia City
State
Virginia
Latitude
36.7042354
Longitude
-77.5470301
102 Dominion Dr, Emporia, Virginia

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102 Dominion Dr
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