219 Arch AveWaynesboro, VA 22980

This exceptional investment opportunity presents a 3,800 square foot freestanding retail building situated on a 0.43-acre lot in downtown Waynesboro, Virginia. Currently leased to Virginia ABC under a Net Lease agreement, the property boasts a strong 6.00% cap rate with a substantial remaining lease term of approximately 5.3 years, extending to February 28, 2030, with two 5-year renewal options. The building underwent a complete renovation in 2019 and features ample parking (17 spaces). Tenant reimbursements for operating expenses are approximately $3.28 per square foot. The property benefits from a prime location, shadow-anchored by Kroger and surrounded by a high-density residential area. Its convenient access to West Main Street and proximity to Interstate 64 (less than 3 miles) further enhance its appeal. The asking price is $1,040,000, offering a compelling return on investment for discerning buyers seeking a stable, net-leased property with a reputable tenant in a thriving market. The property's strong tenant, favorable lease terms, and strategic location make it an ideal addition to any portfolio. The Net Operating Income (NOI) is $62,700.