For Sale
$2,859,899

202 Boatwright Ave Danville, VA 24541

Biomat USA: High-yield, long-term investment.

Overview

Added:
Dec 11, 2024
Days on market:
134
This exceptional investment opportunity presents a single-tenant, net-leased retail and office property located at 202 Boatwright Ave, Danville, VA 24541. The 9,840 square-foot building, constructed in 1965 and renovated in 2017, sits on a 1.44-acre lot and enjoys 100% occupancy by Biomat USA, a subsidiary of the global healthcare company Grifols. Biomat USA has occupied the property since December 1999, demonstrating a strong commitment with numerous lease extensions. The current lease extends to January 31, 2032, offering a remaining term of 7.2 years, and includes a 2% annual rental escalation. A single five-year renewal option is also available. The property generates a strong net operating income (NOI) of $231,282, resulting in an attractive 8.09% cap rate. The property benefits from its convenient location near major thoroughfares, including Central Boulevard (31,000 VPD), Riverside Drive (27,000 VPD), and The Danville Expressway (22,000 VPD). Its proximity to Galileo Magnet High School, Sovah Health Hospital (250 beds), and Averett University further enhances its appeal. The substantial population within a five-mile radius (over 48,500 people) with an average household income exceeding $61,800, contributes to the property's strong market position. An adjacent parcel provides additional parking, leased concurrently with the building, and features 3% annual rental escalations. This is a rare opportunity to acquire a stable, high-performing asset with a long-term tenant and significant upside potential. Specific rent bump details are available in the offering memorandum.

Highlights

  • E-commerce resistant, essential business tenant.
  • Lease extends to January 31, 2032, demonstrating tenant commitment.
  • Biomat USA, a subsidiary of Grifols (NASDAQ: GRFS), is the tenant.
  • Long-term tenant occupancy since 1999.
  • Tenant renovated the space in 2017.
  • Adjacent to Galileo Magnet High School.

Property Details for 202 Boatwright Ave

Property type
Retail properties, Office properties
Square Feet
9,840 SF
Year Built
1965
Lot Size (sq. ft)
62,726 SF

Location Insight

City
Danville
County
Danville City
State
Virginia
Latitude
36.5838909
Longitude
-79.3950297

FAQs

What type of property is this?
Retail property - Biomat USA: High-yield, long-term investment.
Where is the retail property located?
The property is located at 202 Boatwright Ave Danville, VA.
What is the asking price?
The asking price for this property is $2,859,899.
What are key features of this property?
This property features: E-commerce resistant, essential business tenant.; Lease extends to January 31, 2032, demonstrating tenant commitment.; Biomat USA, a subsidiary of Grifols (NASDAQ: GRFS), is the tenant.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
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202 Boatwright Ave
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