433 Commonwealth Blvd Martinsville, VA 24112

This exceptional two-tenant office building, located at 433 Commonwealth Blvd E, Martinsville, VA 24112, presents a compelling investment opportunity. The 17,578 square foot Class A property boasts a desirable location near Martinsville High School and Sovah Health - Martinsville Hospital, benefiting from high daily traffic volume (4,800 vehicles). Currently, the building is 100% occupied, with one tenant holding a lease expiring February 26, 2028, including a five-year renewal option commencing March 1, 2028. This lease features 3% annual rent escalations. The property includes 40 parking spaces and sits on a 1.136-acre lot, zoned ED-MA. Built in 1981 and extensively renovated in 2018, the building comprises two stories and offers a mix of traditional, executive, and medical office spaces. The current Net Operating Income (NOI) is $55,673, with a pro-forma NOI of $158,320, reflecting a current cap rate of 3.71% and a pro-forma cap rate of 10.56%. The asking price is $1,499,000, translating to $85.28 per square foot. The property is offered as a Net Lease (NNN) investment. One tenant occupies 5,922 square feet in a single-story space, while the other previously occupied 12,228 square feet in a two-story space, which is currently available for lease. The building features a central reception area, spacious meeting rooms, and a wide spiral staircase. This presents an excellent opportunity for passive investors or owner-occupiers seeking a high-yield property in a prime location.