1121 Mem BlvdMartinsville, VA 24112

Property Details for 1121 Mem Blvd

Year built

1985

Lot size

0.75 AC

Property size (Sq ft)

2,096 SF

Property type

Retail properties

Property subtype

Restaurants

Description

This 2,096 square foot freestanding fast-food restaurant, a former Biscuitville location, presents a compelling investment opportunity in Martinsville, VA. Situated on a 0.751-acre lot at 1121 S Mem Blvd (zip code 24112), this Class B property boasts a prominent location on a heavily trafficked corridor with an average daily traffic count of 8,000 vehicles. Currently leased under a NNN (Triple Net) lease to Biscuitville until March 31, 2026 (approximately 1.4 years remaining), the property offers a strong 11.75% cap rate and a net operating income (NOI) of $64,508. The asking price is $549,000, translating to $261.93 per square foot. The property features 29 parking spaces and is zoned C-C Corridor Commercial. Built in 1985, this single-story building offers potential for repositioning, redevelopment, or user/owner occupancy. Biscuitville is open to a lease buyout. Some existing furniture, fixtures, and equipment are negotiable. The property is surrounded by a variety of retail and service businesses, including AutoZone, O'Reilly Auto Parts, and several restaurants. This is an excellent opportunity for investors seeking a high-yield, short-term lease with redevelopment potential.

Location Insight

City

Martinsville

County

Martinsville City

State

Virginia

Latitude

36.6747

Longitude

-79.8775

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