For Sale
$1,920,000

40811 Morgan AvePennington Gap, VA 24277

High-yield Dollar Tree/Family Dollar, NN Lease

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional investment opportunity presents a brand-new, 10,500-square-foot convenience store in Pennington Gap, Virginia, boasting a strong 7.00% cap rate. The property features a 10-year net-net lease with a corporate guarantee from Dollar Tree and Family Dollar, ensuring consistent income. Built in 2024, this single-story building sits on a 1.102-acre lot with ample parking (28 spaces). The lease includes rent bumps and four five-year renewal options, extending the investment's longevity. Located at 40811 W Morgan Ave, Pennington Gap, VA 24277, this property benefits from high visibility on Highway 58, experiencing approximately 7,500 vehicles per day. The hybrid store concept is designed for resilience against e-commerce competition, offering a secure and profitable investment with minimal landlord responsibilities, including a roof warranty. The NOI is $134,400, with an asking price of $1,920,000 ($182.86/sq ft). This is a rare opportunity to acquire a newly constructed, high-performing retail asset with a long-term lease and significant upside potential. The property's strong tenant, favorable lease terms, and prime location make it an ideal addition to any investment portfolio.

Highlights

  • 10-year Net-Net lease with a corporate guarantee from Dollar Tree and Family Dollar.
  • E-commerce resistant tenant in a new 10,500 square foot building.
  • $1,920,000 asking price, representing a 7.00% cap rate and $182.86 per square foot.
  • 100% occupancy with a Net Operating Income (NOI) of $134,400.
  • Located on 1.102 acres at 40811 W Morgan Ave, Pennington Gap, VA 24277, with 28 parking spaces.
  • New construction completed in 2024, featuring a hybrid store concept.

Property Details for 40811 Morgan Ave

Property type
Retail properties, Grocery and convenience stores
Square Feet
10,500 SF
Year Built
2024
Buildings
1
Stories
1
Lot Size (sq. ft)
48,003 SF

Location Insight

City
Pennington Gap
County
Lee
State
Virginia
Latitude
36.752649
Longitude
-83.0408589
40811 Morgan Ave, Pennington Gap, Virginia

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40811 Morgan Ave
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