806 Main St Galax, VA 24333

This fee-simple retail property presents a compelling investment opportunity. Located at 806 S Main St, Galax, VA 24333, this 1,800 square foot convenience store and gas station sits on a 0.61-acre lot. The property boasts a 100% occupancy rate with a strong corporate tenant, Majors Management, under an absolute NNN lease. The lease, with a remaining term of approximately 1.2 years, includes options for one 2-year renewal and two 5-year renewals. The property features four fueling pumps and was renovated in 2023. The current lease provides a substantial net operating income (NOI) of $29,875, resulting in an attractive 8.00% cap rate. The asking price is $373,500. The property benefits from its strategic location on State Route 89 (S. Main St), a major thoroughfare with a high volume of daily traffic (5,572 VPD). The tenant, Majors Management, is a significant player in the convenience store and fuel distribution industry, operating over 800 locations across 19 states. The property is branded as a CITGO gas station and a Hop-In convenience store. This investment offers passive cash flow with minimal landlord responsibilities, making it ideal for out-of-state investors. Rent bumps are included in the lease options. The property's APN is 000011173001.