40811 Morgan AvePennington Gap, VA 24277

Property Details for 40811 Morgan Ave

Year built

2024

Lot size

1.10 AC

Property size (Sq ft)

10,500 SF

Property type

Retail properties

Property subtype

Grocery and convenience stores

Description

This exceptional investment opportunity presents a brand-new, 10,500-square-foot convenience store in Pennington Gap, Virginia, boasting a strong 7.00% cap rate. The property features a 10-year net-net lease with a corporate guarantee from Dollar Tree and Family Dollar, ensuring consistent income. Built in 2024, this single-story building sits on a 1.102-acre lot with ample parking (28 spaces). The lease includes rent bumps and four five-year renewal options, extending the investment's longevity. Located at 40811 W Morgan Ave, Pennington Gap, VA 24277, this property benefits from high visibility on Highway 58, experiencing approximately 7,500 vehicles per day. The hybrid store concept is designed for resilience against e-commerce competition, offering a secure and profitable investment with minimal landlord responsibilities, including a roof warranty. The NOI is $134,400, with an asking price of $1,920,000 ($182.86/sq ft). This is a rare opportunity to acquire a newly constructed, high-performing retail asset with a long-term lease and significant upside potential. The property's strong tenant, favorable lease terms, and prime location make it an ideal addition to any investment portfolio.

Location Insight

City

Pennington Gap

County

Lee

State

Virginia

Latitude

36.7526

Longitude

-83.0409

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