6594 Ohio River RdLesage, WV 25537

Property Details for 6594 Ohio River Rd

Year built

2010

Lot size

1.00 AC

Property size (Sq ft)

9,014 SF

Property type

Retail properties

Property subtype

Retail space

Description

This exceptional investment opportunity presents a 9,014 square foot Dollar General store in Lesage, West Virginia, built in 2010. The property boasts a strong 8.00% cap rate based on a Net Operating Income (NOI) of $54,600, secured by a 10-year Net-Net-Net (NNN) lease with six 5-year renewal options, each including a 10% rent increase. The lease, expiring July 31, 2031, has approximately 6.7 years remaining. Dollar General, a tenant with an investment-grade "BBB" credit rating, occupies the entire space at 100% occupancy. The property features 31 parking spaces on a one-acre lot and benefits from its high-traffic location on Ohio River Road, seeing over 9,600 vehicles daily. The surrounding area demonstrates strong demographics, with a ten-mile population of 95,316 and a three-mile average household income of $69,335. Recent improvements include two new HVAC units and brand new parking lot lights. This built-to-suit property offers minimal landlord responsibilities, making it an ideal investment for a 1031 exchange or passive investor seeking a stable, high-return asset. The asking price is $682,500, translating to $75.72 per square foot.

Location Insight

City

Lesage

County

Cabell

State

West Virginia

Latitude

38.4863

Longitude

-82.3016

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