For Sale
$4,277,333

13200 Kingston AveChester, VA 23836

NNN Lease, Strong NOI, 12 Years Remaining

Overview

Added:
Dec 11, 2024
Days on market:
113
This exceptional investment opportunity presents a thriving retail center in Chester, Virginia, featuring a Shell gas station, Subway, and Jiffy Mart convenience store. The property boasts a long-term net lease (NNN) with 12 years remaining on the primary term, followed by three 5-year options. The lease includes a favorable 10% rent escalation every five years, ensuring consistent income growth. The center includes six gasoline dispensers, a diesel dispenser, four high-speed fueling positions, ample truck parking, and an ATM. The convenience store offers truck parts and accessories, adding to its revenue streams. The property enjoys a prime location directly off VA-10E, a major thoroughfare with a high annual average daily traffic count of 37,000 (2024 data). The strong tenant mix, long lease term, and built-in rent increases make this a compelling investment with a current Net Operating Income (NOI) of $288,720 and a 6.75% cap rate. The asking price is $4,277,333. The property is situated just 17 miles (approximately a 23-minute drive) from Richmond, providing access to a larger market. This is a turnkey operation with significant upside potential. The property is 100% occupied.

Highlights

  • $4,277,333 asking price for a Net Leased retail property.
  • NNN lease with Subway and Shell tenants in a multi-tenant building.
  • 12 years remaining on the primary lease term, with 3 five-year renewal options.
  • 6.75% cap rate based on a $288,720 Net Operating Income (NOI).
  • 10% rent increases every five years throughout the base term and option periods.

Property Details for 13200 Kingston Ave

Property type
Retail properties, Grocery and convenience stores

Location Insight

City
Chester
County
Chesterfield
State
Virginia
Latitude
37.3455748
Longitude
-77.344071
13200 Kingston Ave, Chester, Virginia

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13200 Kingston Ave
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