2600 Stuarts Dr HwyStuarts Draft, VA 24477

  • Retail properties
  • 3,661 SF
For Sale
$2,640,000 View listing

Property Details for 2600 Stuarts Dr Hwy

Year built
1991
Lot size
1.30 AC
Property size (Sq ft)
3,661 SF
Property type
Retail properties
Property subtype
Other retail properties

Description

This exceptional investment opportunity presents a fee-simple ownership of a Starbucks located at 2600 Stuarts Draft Highway, Stuarts Draft, Virginia 24477. The property boasts a brand-new, 10-year lease (commencing November 29, 2023, and expiring February 28, 2034) with six 5-year renewal options, featuring 10% rent increases every five years. The 3,661 square foot building, constructed in 1991 and renovated in 2024, sits on a 1.3-acre lot and includes a modern design and a best-in-class drive-thru. The property benefits from a self-maintaining lease, excellent visibility, prominent signage, and two points of access along Stuarts Draft Highway, a primary commercial corridor with high traffic counts (over 15,200 vehicles daily). The strategic location is on a pad site adjacent to Windmill Square Shopping Center, anchored by a Food Lion, and is near major roadways, including Interstates 81 and 64. The property offers a strong 6.25% cap rate with a current NOI of $165,000 and an asking price of $2,640,000. The tenant, Starbucks Corporation, holds an investment-grade credit rating, providing significant financial security. This is a rare opportunity to acquire a high-performing, low-maintenance investment property with a long-term lease and significant upside potential. The property's recent redevelopment, coupled with the strong tenant and location, makes this an attractive investment for passive investors seeking a stable, high-return asset. The surrounding area includes a variety of other retail establishments, further enhancing the property's appeal and drawing significant traffic.

2600 Stuarts Dr Hwy, Stuarts Draft, Virginia

Location Insight

City
Stuarts Draft
County
Augusta
State
Virginia
Latitude
38.0353
Longitude
-79.0419

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