For Sale
$759,000

109 College Dr Franklin, VA 23851

Net-leased retail investment; strong tenant.

Overview

Added:
Dec 11, 2024
Days on market:
138
This exceptional investment opportunity presents a fee-simple interest in a 9,151 square foot Sherwin-Williams storefront located at 109 S College Dr, Franklin, VA 23851. The property, built in 1998 and situated on a 0.88-acre lot, boasts 34 parking spaces and benefits from a prime location in a dense retail corridor near a signalized intersection. The property is zoned B-3: General Business District. The Sherwin-Williams lease, commencing August 1, 2008, and expiring August 1, 2025, has approximately 0.7 years remaining with four 5-year options, each including an 8% rent increase. The current net operating income (NOI) is $68,325, representing a 9.00% cap rate and a price per square foot of $82.94. The asking price is $759,000. This corporate-guaranteed, net-leased investment offers limited landlord responsibilities and significant upside potential due to the scheduled rent increases and the strong, established tenant. The property enjoys excellent visibility and accessibility, with convenient access to US Highway 58. The surrounding area features numerous national retailers, including Walmart, O'Reilly Auto Parts, and Lowe's, creating a synergistic retail environment. A substantial residential population within a five-mile radius provides a strong consumer base. The property's location within a high-traffic area ensures consistent customer flow. This is a rare opportunity to acquire a well-positioned, net-leased investment property with a strong tenant and significant remaining lease term.

Highlights

  • $759,000 asking price for a 9,151 square foot Sherwin-Williams storefront in Franklin, VA.
  • Net lease with corporate guarantee, 0.7 years remaining, and four 5-year options with 8% rent bumps.
  • 9% cap rate, $68,325 NOI, 100% occupancy.
  • Located in a dense retail corridor near a signalized intersection with high visibility and accessibility.
  • Strong residential consumer base within a five-mile radius.

Property Details for 109 College Dr

Property type
Retail properties, Retail space
Square Feet
9,151 SF
Year Built
1998
Lot Size (sq. ft)
38,333 SF

Location Insight

City
Franklin
County
Southampton
State
Virginia
Latitude
36.6715128
Longitude
-76.9373436

FAQs

What type of property is this?
Retail property - Net-leased retail investment; strong tenant.
Where is the retail property located?
The property is located at 109 College Dr Franklin, VA.
What is the asking price?
The asking price for this property is $759,000.
What are key features of this property?
This property features: $759,000 asking price for a 9,151 square foot Sherwin-Williams storefront in Franklin, VA.; Net lease with corporate guarantee, 0.7 years remaining, and four 5-year options with 8% rent bumps.; 9% cap rate, $68,325 NOI, 100% occupancy.
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.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
109 College Dr
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message