1121 Mem BlvdMartinsville, VA 24112

  • Retail properties
  • 2,096 SF
For Sale
$549,000 View listing

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
Other retail properties

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.

1121 Mem Blvd, Martinsville, Virginia

Location Insight

City
Martinsville
County
Martinsville City
State
Virginia
Latitude
36.6747
Longitude
-79.8775

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