For Sale
$999,000

801 Larry Joe Harless Dr Gilbert, WV 25621

High-Yield Retail Portfolio in WV

Property Records

Overview

Added:
Dec 11, 2024
Days on market:
139
This exceptional investment opportunity presents a fee-simple ownership of a two-building retail portfolio totaling 8,190 square feet, situated on a 1.6-acre lot in Gilbert, West Virginia. The property, located at 801 Larry Joe Harless Drive, 25621, boasts a prime commercial zoning and ample parking with 50 spaces. Currently 100% occupied by a multi-tenant configuration featuring a Family Dollar and one additional tenant, this stabilized investment offers a compelling 9.00% cap rate. The buildings, constructed in 2003, are single-story Class B structures. The lease structure is NNN (Net, Net, Net), with a current lease term of five years remaining on one lease and another five-year lease beginning in 2032. This translates to a total lease term extending to 2032. The property's strong tenant base and long-term lease agreements provide a secure and predictable income stream. This is a rare opportunity to acquire a high-performing retail investment in a desirable location. The property offers significant potential for long-term appreciation and passive income generation. The property is offered at $999,000.

Highlights

  • $999,000 asking price for a stabilized retail investment property.
  • 8,190 square feet on a 1.6-acre lot in Gilbert, WV.
  • 100% occupancy with two tenants, including Family Dollar, under a NNN lease.
  • 9.00% cap rate with a remaining lease term of 8 years, plus a 5-year option.
  • Two single-story buildings totaling 8,190 square feet, built in 2003, with 50 parking spaces.
  • Fee simple ownership with a broker co-op available.

Property Details for 801 Larry Joe Harless Dr

Property type
Retail properties, Grocery and convenience stores
Square Feet
8,190 SF
Class
B
Year Built
2003
Buildings
2
Stories
1
Lot Size (sq. ft)
69,696 SF
Units
2

Location Insight

City
Gilbert
County
Mingo
State
West Virginia
Latitude
37.612234808396
Longitude
-81.866859280851

FAQs

What type of property is this?
Retail property - High-Yield Retail Portfolio in WV
Where is the retail property located?
The property is located at 801 Larry Joe Harless Dr Gilbert, WV.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: $999,000 asking price for a stabilized retail investment property.; 8,190 square feet on a 1.6-acre lot in Gilbert, WV.; 100% occupancy with two tenants, including Family Dollar, under a NNN lease.
How can I contact the broker?
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801 Larry Joe Harless Dr
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