1121 Mem BlvdMartinsville, VA 24112
- Retail properties
- 2,096 SF
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.
Location Insight
- City
- Martinsville
- County
- Martinsville City
- State
- Virginia
- Latitude
- 36.6747
- Longitude
- -79.8775
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
- How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
- Please email our support team at [email protected] and they will add the team member.
- 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 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 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].